Events of Default by Tenant. If (i) Tenant fails to pay any Rent on the date due (a “Monetary Default”); or (ii) Tenant fails to cure any other default, such as, but not limited to, the performance of any other covenant or agreement of this Lease, or any rules and regulations attached to this Lease, or promulgated by Landlord under this Lease (a “Nonmonetary Default”); or (iii) Tenant fails to fulfill any of the material terms or conditions of this Lease following the giving of applicable notice and opportunity to cure or (iv) the appointment of a trustee or a receiver to take possession of all or substantially all of Tenant’s assets occurs, or if the attachment, execution or other judicial seizure of all or substantially all of Tenant’s assets located at the Premises, or of Tenant’s interest in this Lease, occurs, or (v) Tenant or any of its successors or assigns or surety of Tenant’s obligations should file any voluntary petition in bankruptcy, reorganization or arrangement, or an assignment for the benefit of creditors or for similar relief under any present or future statute, law or regulation relating to relief of debtors, or (vi) Tenant or any of its successors or assigns should be adjudicated bankrupt or have an involuntary petition in bankruptcy, reorganization or arrangement filed against it which is not dismissed within ninety (90) days, or (vii) Tenant shall permit, allow or suffer to exist any lien, judgment, writ, assessment, charge, attachment or execution upon Landlord’s or Tenant’s interest in this Lease or to the Premises, and/or the fixtures, and improvements and furnishings located thereon and fails within thirty (30) days either to discharge the same or provide a bond transferring same, then, Tenant shall be in default hereunder, or (viii) the leasehold estate granted to Tenant by this Lease is taken on execution or other process of law or equity in any action against Tenant.
Appears in 4 contracts
Sources: Lease Agreement, Office Lease, Office Lease (Summit Financial Services Group Inc)
Events of Default by Tenant. If (i1) Tenant abandons or surrenders all or any part of the Premises prior to the expiration of the Term of the Lease or (2) Tenant fails to pay any Rent on the date due or Additional Rent within five (a “Monetary Default”); or 5) days after notice from Landlord of delinquency, (ii) Tenant fails to cure any other default, such as, but not limited to, the performance of any other covenant or agreement of this Lease, or any rules and regulations attached to this Lease, or promulgated by Landlord under this Lease (a “Nonmonetary Default”); or (iii3) Tenant fails to fulfill any of the material terms or conditions of this Lease following or any other lease heretofore made by Tenant for space in the giving of applicable Premises and the same is not cured within thirty (30) days after written notice and opportunity thereof from Landlord, unless the same cannot be cured within said thirty (30) day period, in which case Tenant shall have such additional time as is reasonably necessary to cure such default, not to exceed ninety (90) days in any and all events, provided that Tenant commences such cure within said thirty (30) day period and thereafter diligently prosecutes the same to completion, or (iv4) the appointment of a trustee or a receiver to take possession of all or substantially all of Tenant’s assets occurs, or if the attachment, execution or other judicial seizure of all or substantially all of Tenant’s assets located at the Premises, or of Tenant’s interest in this Lease, occurs, and in the case of an involuntary appointment only, the same is not dismissed within ninety (90) days from said appointment, or (v5) Tenant or any of its successors or assigns or surety any guarantor of Tenant’s obligations this Lease (“Guarantor”) should file any voluntary petition in bankruptcy, reorganization or arrangement, or an assignment for the benefit of creditors or for similar relief under any present or future statute, law or regulation relating to relief of debtors, or (vi6) Tenant or any of its successors or assigns or any Guarantor should be adjudicated bankrupt or have an involuntary petition in bankruptcy, reorganization or arrangement filed against it which is and the same not be dismissed within ninety (90) daysdays of the date of the filing thereof, or (vii7) Tenant shall permit, allow or suffer to exist any lien, judgment, writ, assessment, charge, attachment or execution upon Landlord’s or Tenant’s interest in this Lease or to the Premises, and/or the fixtures, and improvements and furnishings located thereon and fails within thirty (30) days either to discharge the same or provide a bond transferring samethereon, except as otherwise permitted herein; then, Tenant shall be in default hereunder, or (viii) the leasehold estate granted to Tenant by this Lease is taken on execution or other process of law or equity in any action against Tenant.
Appears in 4 contracts
Sources: Lease (Radiation Therapy Services Holdings, Inc.), Lease (Radiation Therapy Services Inc), Lease (Radiation Therapy Services Holdings, Inc.)
Events of Default by Tenant. If Following events are referred to, collectively, as “Events of Default” or, individually, as an “Event of Default”:
(ia) Tenant fails to pay Rent when due, and such failure continues for five (5) business days after written notice from Landlord;
(b) Tenant breaches any Rent on of the date due other agreements, terms, covenants, or conditions that this Lease requires Tenant to perform, and such breach continues for a period of thirty (a “Monetary Default”); or 30) days after written notice from Landlord to Tenant or, if such breach cannot be cured reasonably within such thirty (ii30) day period, if Tenant fails to diligently commence to cure such breach within thirty (30) days after written notice from Landlord and to complete such cure within a reasonable time thereafter, not to exceed an additional sixty (60) days.
(c) This Lease or the Premises or any part of the Premises are taken upon execution or by other defaultprocess of law directed against Tenant, such asor are taken upon or subject to any attachment by any creditor of Tenant or claimant against Tenant, but and said attachment is not limited to, discharged or disposed of within sixty (60) days after its levy;
(d) Tenant files a petition in bankruptcy or insolvency or for reorganization or arrangement under the performance bankruptcy laws of the United States or under any insolvency act of any other covenant or agreement of this Leasestate, or admits the material allegations of any rules and regulations attached to this Leasesuch petition by answer or otherwise, or promulgated by Landlord under this Lease (a “Nonmonetary Default”); is dissolved or (iii) Tenant fails to fulfill any of the material terms or conditions of this Lease following the giving of applicable notice and opportunity to cure or (iv) the appointment of a trustee or a receiver to take possession of all or substantially all of Tenant’s assets occurs, or if the attachment, execution or other judicial seizure of all or substantially all of Tenant’s assets located at the Premises, or of Tenant’s interest in this Lease, occurs, or (v) Tenant or any of its successors or assigns or surety of Tenant’s obligations should file any voluntary petition in bankruptcy, reorganization or arrangement, or makes an assignment for the benefit of creditors creditors;
(e) Involuntary proceedings under any such bankruptcy law or insolvency act or for similar relief under any present or future statute, law or regulation relating to relief the dissolution of debtorsTenant are instituted against Tenant, or (vi) Tenant a receiver or any trustee is appointed for all or substantially all of its successors or assigns should be adjudicated bankrupt or have an involuntary petition in bankruptcythe property of Tenant, reorganization or arrangement filed against it which and such proceeding is not dismissed or such receivership or trusteeship vacated within ninety sixty (9060) days, days after such institution or appointment;
(viif) Tenant shall permit, allow repeatedly default in the timely payment of Rent or suffer any other charges required to exist any lien, judgment, writ, assessment, charge, attachment or execution upon Landlord’s or Tenant’s interest in this Lease or to the Premises, and/or the fixtures, and improvements and furnishings located thereon and fails within thirty (30) days either to discharge the same or provide a bond transferring same, then, Tenant shall be in default hereunderpaid, or (viii) the leasehold estate granted to shall repeatedly default in keeping, observing or performing any other covenant, agreement, condition or provision of this Lease, beyond any applicable notice and cure periods, whether or not Tenant by this Lease is taken on execution ultimately cures any such payment or other process default. For the purposes of law or equity in this Article 25.1, the occurrence of similar defaults two (2) times during any action against TenantLease Year shall constitute a repeated default.
Appears in 3 contracts
Sources: Office Lease (Blue Water Acquisition Corp.), Office Lease (Clarus Therapeutics Inc), Office Lease (Clarus Therapeutics Inc)
Events of Default by Tenant. If The occurrence of one or more of the following shall constitute an “Event of Default” under this Lease:
(i1) Tenant abandons or surrenders all or any part of the Premises prior to the expiration of the Term of the Lease;
(2) Tenant fails to pay any Rent on the date due or Additional Rent within ten (a “Monetary Default”); or 10) days after written notice from Landlord of delinquency;
(ii) Tenant fails to cure any other default, such as, but not limited to, the performance of any other covenant or agreement of this Lease, or any rules and regulations attached to this Lease, or promulgated by Landlord under this Lease (a “Nonmonetary Default”); or (iii3) Tenant fails to fulfill any of the material terms or conditions of this Lease following and the giving of applicable same is not cured within thirty (30) days after written notice and opportunity thereof from Landlord, unless the same cannot be cured within said thirty (30) day period, in which case Tenant shall have such additional time as is reasonably necessary to cure or such default, not to exceed ninety (iv90) days in any and all events, provided that Tenant commences such cure within said thirty (30) day period and thereafter diligently prosecutes the same to completion;
(4) The appointment of a trustee or a receiver to take possession of all or substantially all of Tenant’s assets occurs, or if the attachment, execution or other judicial seizure of all or substantially all of Tenant’s assets located at the Premises, or of Tenant’s interest in this Lease, occurs, or and in the case of an involuntary appointment only, the same is not dismissed within ninety (v90) days from said appointment;
(5) Tenant or any of its successors or assigns or surety any guarantor of Tenant’s obligations this Lease (“Guarantor”) should file any voluntary petition in bankruptcy, reorganization or arrangement, or an assignment for the benefit of creditors or for similar relief under any present or future statute, law or regulation relating to relief of debtors, or ; or
(vi6) Tenant or any of its successors or assigns or any Guarantor should be adjudicated bankrupt or have an involuntary petition in bankruptcy, reorganization or arrangement filed against it which is and the same not be dismissed within ninety (90) days, or (vii) Tenant shall permit, allow or suffer to exist any lien, judgment, writ, assessment, charge, attachment or execution upon Landlord’s or Tenant’s interest in this Lease or to days of the Premises, and/or date of the fixtures, and improvements and furnishings located thereon and fails within thirty (30) days either to discharge the same or provide a bond transferring same, then, Tenant shall be in default hereunder, or (viii) the leasehold estate granted to Tenant by this Lease is taken on execution or other process of law or equity in any action against Tenantfiling thereof.
Appears in 2 contracts
Sources: Lease (Radiation Therapy Services Holdings, Inc.), Lease (Radiation Therapy Services Holdings, Inc.)
Events of Default by Tenant. If The following events are referred to, collectively, as “Events of Default” or, individually, as an “Event of Default”:
(ia) The vacation or abandonment of the Premises by Tenant fails (failure of Tenant to occupy the Premises for a period of ten (10) consecutive days while in monetary default under this Lease shall conclusively be deemed a vacation and abandonment of the Premises);
(b) Failure to pay any installment of Rent on or any other monies due and payable hereunder, said failure continuing for a period of three (3) business days after the date due same is due, provided that with respect to the first late payment in any twelve (a “Monetary Default”)12) month period, it shall not be an Event of Default unless such payment is not received within three (3) calendar days after written notice thereof by Landlord to Tenant; or (ii) provided further that in the event Tenant fails thereafter in the same twelve (12) month period to pay any Rent, then any late charge or Default Interest which were waived because of Tenant’s timely cure any other default, of its first Event of Default in such as, but not limited totwelve (12) month period shall be re-instated;
(c) A general assignment by Tenant for the benefit of creditors;
(d) The filing of a voluntary petition in bankruptcy by Tenant, the performance filing by Tenant of any other covenant a voluntary petition for an arrangement, the filing by or agreement against Tenant of this Leasea petition, voluntary or involuntary, for reorganization, or any rules and regulations attached to this Leasethe filing of an involuntary petition by the creditors of Tenant, said involuntary petition remaining undischarged for a period of sixty (60) days;
(e) Receivership, attachment, or promulgated by Landlord under this Lease (a “Nonmonetary Default”); or (iii) Tenant fails to fulfill any other judicial seizure of the material terms or conditions of this Lease following the giving of applicable notice and opportunity to cure or (iv) the appointment of a trustee or a receiver to take possession of all or substantially all of Tenant’s assets occurson the Premises, such attachment or other seizure remaining undismissed or undischarged for a period of sixty (60) days after the levy thereof,
(f) Death or disability of Tenant, if Tenant is a natural person, or the failure by Tenant to maintain its legal existence, if the attachmentTenant is a corporation, execution partnership, limited liability company, trust or other judicial seizure legal entity (except to the extent Tenant changes the status of all its legal existence through reincorporation in an alternate jurisdiction or substantially all reorganization due to a merger, acquisition or similar corporate transaction);
(g) Failure of Tenant to execute and deliver to Landlord any estoppel certificate, subordination agreement, or lease amendment within the time periods and in the manner required by the Lease, and/or failure by Tenant to deliver to Landlord any financial statement within the time period and in the manner required the Lease;
(h) An assignment or sublease, or attempted assignment or sublease, of this Lease or the Premises by Tenant contrary to the provision of Article 10 of this Lease, unless such assignment or sublease is expressly conditioned upon Tenant having received Landlord’s consent thereto;
(i) Failure in the performance of any of Tenant’s assets located at the Premisescovenants, agreements or obligations hereunder (except those failures specified as Events of Tenant’s interest Default in this Leasesubparagraphs (b), occurs, (d) or (ve) Tenant herein or any other subparagraphs of its successors or assigns or surety of this Article 25.01, which shall be governed by the notice and cure periods set forth in such other subparagraphs), which failure continues for thirty (30) days after written notice thereof from Landlord to Tenant’s obligations should file any voluntary petition , provided that, if Tenant has exercised reasonable diligence to cure such failure and such failure cannot be cured within such thirty (30) day period despite reasonable diligence, Tenant shall not be in bankruptcy, reorganization or arrangement, or an assignment for default under this subparagraph so long as Tenant thereafter diligently and continuously prosecutes the benefit of creditors or for similar relief under any present or future statute, law or regulation relating cure to relief of debtors, or (vi) Tenant or any of its successors or assigns should be adjudicated bankrupt or have an involuntary petition in bankruptcy, reorganization or arrangement filed against it which is not dismissed completion and actually completes such cure within ninety (90) daysdays after the giving of the aforesaid written notice;
(j) Chronic Default by Tenant in the payment of Rent, or (vii) any other periodic payments required to be paid by Tenant shall permitunder this Lease. “Chronic Default” means failure by Tenant to pay Rent, allow or suffer any other payments required to exist any lien, judgment, writ, assessment, charge, attachment or execution upon Landlord’s or Tenant’s interest in be paid by Tenant under this Lease or to the Premises, and/or the fixtures, and improvements and furnishings located thereon and fails within thirty three (303) days either to discharge the same after written notice thereof for any three (3) months (consecutive or provide a bond transferring same, then, Tenant shall be in default hereunder, or nonconsecutive) during any period of twelve (viii12) the leasehold estate granted to Tenant by this Lease is taken on execution or other process of law or equity in any action against Tenant.months;
Appears in 2 contracts
Sources: Office Lease, Office Lease (Zillow Inc)
Events of Default by Tenant. If (i) Tenant fails to pay any Rent on the date due (a “Monetary Default”); or (ii) Tenant fails to cure any other default, such as, but not limited to, the performance The occurrence of any other covenant or agreement of this Lease, or any rules and regulations attached to this Lease, or promulgated by Landlord under this Lease (a “Nonmonetary Default”); or (iii) Tenant fails to fulfill any of the following shall constitute a material terms or conditions default and breach of this Lease following by Tenant:
(A) The failure by Tenant to pay Rent within five (5) days after written notice from Landlord that such Rent is due.
(B) The abandonment of the giving Premises by Tenant or Tenant's failure to surrender the Premises in accordance with the requirements of applicable Article XXI upon the termination or sooner expiration of the Lease.
(C) [Intentionally deleted]
(D) Any prohibited Transfer under this Lease.
(E) The failure by Tenant to furnish Landlord any subordination, non-disturbance and attornment agreement or estoppel certificate requested by Landlord within the time period prescribed herein.
(F) The failure by Tenant to observe or perform any other provision of this Lease if such failure continues for thirty (30) days after written notice thereof by Landlord to Tenant, provided that if such default cannot be cured within such thirty (30) day period, but Tenant commences such cure within thirty (30) days after written notice from Landlord and opportunity diligently pursues such cure thereafter, then Tenant shall have a reasonable period to cure complete such cure, not to exceed ninety (90) days. The notice described herein shall be in lieu of, and not in addition to, any notice required by any law now or hereafter in effect requiring that notice of default be given prior to the commencement of an unlawful detainer or other legal proceeding.
(ivG) The making by Tenant, or if Tenant is a partnership or limited liability company, by any partner or member thereof, of any general assignment for the benefit of creditors, the filing by or against Tenant of a petition under any federal or state bankruptcy or insolvency laws which petition is not dismissed or stayed within sixty (60) days of filing; the appointment of a trustee or a receiver to take possession of all or substantially all of Tenant’s 's assets occurs, at the Premises or if Tenant's interest in this Lease or the Premises; the attachment, execution or other judicial seizure of all or substantially all of Tenant’s 's assets located at the Premises, or of Tenant’s interest in this Lease, occurs, or (v) Tenant or any of its successors or assigns or surety of Tenant’s obligations should file any voluntary petition in bankruptcy, reorganization or arrangement, or an assignment for the benefit of creditors or for similar relief under any present or future statute, law or regulation relating to relief of debtors, or (vi) Tenant or any of its successors or assigns should be adjudicated bankrupt or have an involuntary petition in bankruptcy, reorganization or arrangement filed against it which is not dismissed within ninety (90) days, or (vii) Tenant shall permit, allow or suffer to exist any lien, judgment, writ, assessment, charge, attachment or execution upon Landlord’s Premises or Tenant’s 's interest in this Lease or to the Premises, and/or ; or the fixtures, and improvements and furnishings located thereon and fails within thirty death or the dissolution of Tenant.
(30H) days either to discharge the same or provide a bond transferring same, then, Tenant shall be in default hereunderAny material misrepresentation herein, or (viii) the leasehold estate granted to material misrepresentation or omission in any financial statements or other materials provided by Tenant by in connection with negotiating or entering into this Lease is taken on execution or other process in connection with any Transfer under Article XIV.
(I) Any event of law default beyond applicable notice and cure periods under the Purchase Agreement, the Konarka ESA, the Short-Term Energy Services Agreement, or equity in the O&M Agreement (and any action against Tenantreplacement, amendment, or extension of any of the foregoing agreements).
Appears in 2 contracts
Sources: Power Plant Operation and Development Lease With Purchase Option (Laidlaw Energy Group, Inc.), Power Plant Operation and Development Lease With Purchase Option (Laidlaw Energy Group, Inc.)
Events of Default by Tenant. If If
(i1) Tenant abandons or surrenders all or any part of the Premises prior to the expiration of the Term of the Lease;
(2) Tenant fails to pay any Rent on the date due or Additional Rent within five (a “Monetary Default”); or 5) days after receipt of written notice from Landlord of delinquency;
(ii) Tenant fails to cure any other default, such as, but not limited to, the performance of any other covenant or agreement of this Lease, or any rules and regulations attached to this Lease, or promulgated by Landlord under this Lease (a “Nonmonetary Default”); or (iii3) Tenant fails to fulfill any of the material terms or conditions of this Lease following or any other lease heretofore made by Tenant for space in the giving of applicable Premises and the same is not cured within thirty (30) days after written notice and opportunity thereof from Landlord, unless the same cannot be cured within said thirty (30) day period, in which case Tenant shall have such additional time as is reasonably necessary to cure or such default, not to exceed ninety (iv90) days in any and all events, provided that Tenant commences such cure within said thirty (30) day period and thereafter diligently prosecutes the same to completion;
(4) the appointment of a trustee or a receiver to take possession of all or substantially all of Tenant’s assets occurs, or if the attachment, execution or other judicial seizure of all or substantially all of Tenant’s assets located at the Premises, or of Tenant’s interest in this Lease, occurs, or and in the case of an involuntary appointment only, the same is not dismissed within ninety (v90) days from said appointment;
(5) Tenant or any of its successors or assigns or surety any guarantor of Tenant’s obligations this Lease (“Guarantor”) should file any voluntary petition in bankruptcy, reorganization or arrangement, or an assignment for the benefit of creditors or for similar relief under any present or future statute, law or regulation relating to relief of debtors, or ;
(vi6) Tenant or any of its successors or assigns or any Guarantor should be adjudicated bankrupt or have an involuntary petition in bankruptcy, reorganization or arrangement filed against it which is and the same not be dismissed within ninety (90) days, or days of the date of the filing thereof; or
(vii7) Tenant shall permit, allow or suffer to exist beyond ten (10) business days any lien, judgment, writ, assessment, charge, attachment or execution upon Landlord’s or Tenant’s interest in this Lease the Land or any other property of Landlord’s or to the Premises, and/or the fixtures, and improvements and furnishings located thereon and fails within thirty (30) days either to discharge the same or provide a bond transferring samethereon, except as otherwise permitted herein; then, Tenant shall be in default hereunder, or (viii) the leasehold estate granted to Tenant by this Lease is taken on execution or other process of law or equity in any action against Tenant.
Appears in 2 contracts
Sources: Lease (Radiation Therapy Services Holdings, Inc.), Lease (Radiation Therapy Services Holdings, Inc.)
Events of Default by Tenant. If It shall be an "Event of Default" under this Lease, if (i) Tenant fails to pay any Fixed Rent on the date due or additional rent for more than ten (a “Monetary Default”)10) days, after notice thereof specifying such failure and that such failure may be an Event of Default hereunder; or (ii) Tenant fails to perform its other non-monetary obligations hereunder for more than thirty (30) days after notice thereof from Landlord, together with such additional time, if any, as is reasonably required to cure any other default, the default if the default is of such as, but a nature that it cannot limited to, the performance of any other covenant or agreement of this Lease, or any rules and regulations attached to this Lease, or promulgated by Landlord under this Lease reasonably be cured in thirty (a “Nonmonetary Default”)30) days; or (iii) if Tenant fails to fulfill makes any of the material terms or conditions of this Lease following the giving of applicable notice and opportunity to cure or (iv) the appointment of a trustee or a receiver to take possession of all or substantially all of Tenant’s assets occurs, or if the attachment, execution or other judicial seizure of all or substantially all of Tenant’s assets located at the Premises, or of Tenant’s interest in this Lease, occurs, or (v) Tenant or any of its successors or assigns or surety of Tenant’s obligations should file any voluntary petition in bankruptcy, reorganization or arrangement, or an assignment for the benefit of creditors creditors, or for similar relief files a petition under any present bankruptcy or future statute, law or regulation relating to relief of debtors, insolvency law; or (viiv) Tenant or any of its successors or assigns should be adjudicated bankrupt or have an involuntary if such a petition in bankruptcy, reorganization or arrangement is filed against it which Tenant and is not dismissed within thirty (30) days; or (v) if a receiver becomes entitled to Tenant's leasehold hereunder and it is not returned to Tenant within ninety (90) days, ; or (viivi) Tenant shall permit, allow or suffer to exist any lien, judgment, writ, assessment, charge, attachment or execution upon Landlord’s or Tenant’s interest in this Lease or to the Premises, and/or the fixtures, and improvements and furnishings located thereon and fails within thirty (30) days either to discharge the same or provide a bond transferring same, then, Tenant shall be in default hereunder, or (viii) the such leasehold estate granted to Tenant by this Lease is taken on execution or other process of law or equity in any action against Tenant; then, and in any such cases, Landlord and the agents and servants of Landlord may, in addition to and not in derogation of any remedies for any preceding breach of covenant, immediately or at any time thereafter while such default continues and without further notice, enter into and upon the Premises or any part thereof in the name of the whole or mail a notice of termination addressed to Tenant at the Premises and repossess the same as of Landlord's former estate and expel Tenant and those claiming through or under Tenant and remove its and their effects without being deemed guilty of any manner of trespass and without prejudice to any remedies which might otherwise be used for arrears of rent or prior breach of covenant, and upon such entry or mailing as aforesaid, this Lease shall terminate, but Tenant shall remain liable as hereinafter provided. After the occurrence of an Event of Default as aforesaid, Tenant hereby waives all statutory rights of redemption, if any to the extent such rights may be lawfully waived, and Landlord, without notice to Tenant, may store Tenant's effects and those of any person claiming through or under Tenant at the expense and risk of Tenant and, if Landlord so elects, may sell such effects at public auction or private sale and apply the net proceeds to the payment of all sums due to Landlord from Tenant, if any, and pay over the balance, if any, to Tenant.
Appears in 2 contracts
Sources: Lease Agreement (Rsa Security Inc/De/), Lease Agreement (Rsa Security Inc/De/)
Events of Default by Tenant. Inclusive of any specified applicable notice and cure periods, the occurrence of any one or more of the following events shall constitute an “Event of Default” hereunder by Tenant:
(a) If Tenant fails to make any payment of Base Rent, Additional Rent, or any other payment required hereunder, as and when due, and such failure shall continue for a period of five (5) business days after written notice thereof from Landlord to Tenant, provided, however, Landlord need not give any such notice more than twice in any twelve (12) month period, and any further failure by Tenant within any such twelve (12) month period to make any payment of Base Rent, Additional Rent or any other sum payable by Tenant under this Lease within five (5) business days after its due date shall constitute an immediate Event of Default without any notice from Landlord;
(b) If Tenant shall abandon the Premises (whether or not the keys shall have been surrendered or the Base Rent and Additional Rent shall have been paid), it being agreed that mere vacation of the Premises shall not constitute an abandonment provided Tenant complies with the terms of Section 6.1.20 hereof);
(c) If Tenant shall fail to execute and deliver to Landlord an estoppel certificate pursuant to Section 10.10 below or a subordination and attornment agreement pursuant to Section 8.1 above, within the timeframes set forth therein;
(d) If Tenant shall fail to maintain any insurance required hereunder;
(e) If Tenant shall fail to restore the Security Deposit to its original amount or deliver a replacement Letter of Credit as required under Section 4.3 above;
(f) If Tenant causes or suffers any release of Hazardous Materials in, on or about the Premises;
(g) If Tenant shall make a Transfer in violation of the provisions of Section 6.1.6 above, or if any event shall occur or any contingency shall arise whereby this Lease, or the term and estate thereby created, would (by operation of law or otherwise) devolve upon or pass to any person, firm or corporation other than Tenant, except as expressly permitted under Section 6.1.6;
(h) If Tenant fails to comply with the provisions of Article III or Section 6.1.3 above, and such failure shall continue for a period of three (3) days after written notice thereof from Landlord to Tenant; provided, however, an Event of Default shall occur hereunder without any obligation of Landlord to give any notice if (i) Tenant fails to pay any Rent on comply with the date due (a “Monetary Default”); provisions of Article III or Section 6.1.3 above, and (ii) Landlord has given Tenant fails to cure any other default, such as, but not limited to, the performance of any other covenant or agreement of this Lease, or any rules and regulations attached to this Lease, or promulgated by Landlord written notice under this Lease Section 9.1(h) on one (a “Nonmonetary Default”); 1) occasion during the twelve (12) month interval preceding such failure by Tenant;
(i) The failure by Tenant to observe or (iii) Tenant fails to fulfill perform any of the material terms covenants or conditions provisions of this Lease following Agreement to be observed or performed by Tenant, other than as specified above, and such failure continues for more than thirty (30) days after written notice thereof from Landlord; provided, further, that if the giving nature of applicable Tenant’s default is such that more than thirty (30) days are reasonably required for its cure, then Tenant shall not be deemed to be in default if Tenant shall commence such cure within said thirty (30) day period and thereafter diligently prosecute such cure to completion, which completion shall occur not later than ninety (90) days from the date of such notice and opportunity from Landlord regardless of the reason for lack of completion;
(j) Tenant shall be involved in financial difficulties as evidenced by an admission in writing by Tenant of Tenant’s inability to cure pay its debts generally as they become due, or by the making or offering to make a composition of its debts with its creditors;
(ivk) the appointment Tenant shall make an assignment or trust mortgage, or other conveyance or transfer of a trustee or a receiver to take possession like nature, of all or substantially all of Tenant’s assets occurs, or if the attachment, execution or other judicial seizure of all or substantially all of Tenant’s assets located at the Premises, or of Tenant’s interest in this Lease, occurs, or (v) Tenant or any a substantial part of its successors or assigns or surety of Tenant’s obligations should file any voluntary petition in bankruptcy, reorganization or arrangement, or an assignment property for the benefit of creditors its creditors,
(l) an attachment on mesne process, on execution or for similar relief under any present or future statute, law or regulation relating to relief of debtorsotherwise, or (vi) other legal process shall issue against Tenant or its property and a sale of any of its successors assets shall be held thereunder;
(m) the leasehold hereby created shall be taken on execution or assigns should by other process of law and shall not be adjudicated bankrupt or have an involuntary petition revested in bankruptcy, reorganization or arrangement filed against it which is not dismissed within ninety (90) days, or (vii) Tenant shall permit, allow or suffer to exist any lien, judgment, writ, assessment, charge, attachment or execution upon Landlord’s or Tenant’s interest in this Lease or to the Premises, and/or the fixtures, and improvements and furnishings located thereon and fails within thirty (30) days either thereafter;
(n) a receiver, sequesterer, trustee or similar officer shall be appointed by a court of competent jurisdiction to discharge take charge of all or any part of Tenant’s Property and such appointment shall not be vacated within sixty (60) days; or
(o) any proceeding shall be instituted by or against Tenant pursuant to any of the same provisions of any Act of Congress or provide a bond transferring sameState law relating to bankruptcy, thenreorganizations, arrangements, compositions or other relief from creditors, and, in the case of any proceeding instituted against it, if Tenant shall be in default hereunder, fail to have such proceedings dismissed within sixty (60) days or (viii) the leasehold estate granted to if Tenant by this Lease is taken on execution adjudged bankrupt or other process insolvent as a result of law or equity in any action against Tenantsuch proceeding.
Appears in 2 contracts
Events of Default by Tenant. If If
(i1) Tenant abandons or surrenders all or any part of the Premises prior to the expiration of the Term of the Lease;
(2) Tenant fails to pay any Rent on the date due or Additional Rent within ten (a “Monetary Default”); or 10) days after written notice from Landlord of delinquency;
(ii) Tenant fails to cure any other default, such as, but not limited to, the performance of any other covenant or agreement of this Lease, or any rules and regulations attached to this Lease, or promulgated by Landlord under this Lease (a “Nonmonetary Default”); or (iii3) Tenant fails to fulfill any of the material terms or conditions of this Lease following or any other lease heretofore made by Tenant for space in the giving of applicable Premises and the same is not cured within thirty (30) days after written notice and opportunity thereof from Landlord, unless the same cannot be cured within said thirty (30) day period, in which case Tenant shall have such additional time as is reasonably necessary to cure or such default, not to exceed ninety (iv90) days in any and all events, provided that Tenant commences such cure within said thirty (30) day period and thereafter diligently prosecutes the same to completion;
(4) the appointment of a trustee or a receiver to take possession of all or substantially all of Tenant’s assets occurs, or if the attachment, execution or other judicial seizure of all or substantially all of Tenant’s assets located at the Premises, or of Tenant’s interest in this Lease, occurs, or and in the case of an involuntary appointment only, the same is not dismissed within ninety (v90) days from said appointment;
(5) Tenant or any of its successors or assigns or surety any guarantor of Tenant’s obligations this Lease (“Guarantor”) should file any voluntary petition in bankruptcy, reorganization or arrangement, or an assignment for the benefit of creditors or for similar relief under any present or future statute, law or regulation relating to relief of debtors, or ;
(vi6) Tenant or any of its successors or assigns or any Guarantor should be adjudicated bankrupt or have an involuntary petition in bankruptcy, reorganization or arrangement filed against it which is and the same not be dismissed within ninety (90) days, or days of the date of the filing thereof; or
(vii7) Tenant shall permit, allow or suffer to exist any lien, judgment, writ, assessment, charge, attachment or execution upon Landlord’s the Premises or Tenant’s interest in this Lease or to the Premisesany portion thereof, and/or the fixtures, and improvements and furnishings located thereon and fails within thirty (30) days either to discharge the same or provide a bond transferring samethereon, except as otherwise permitted herein; then, Tenant shall be in default hereunder, or (viii) the leasehold estate granted to Tenant by this Lease is taken on execution or other process of law or equity in any action against Tenant.
Appears in 2 contracts
Sources: Lease (Radiation Therapy Services Holdings, Inc.), Lease (Radiation Therapy Services Holdings, Inc.)
Events of Default by Tenant. If The following events (individually, an “Event of Default,” and collectively, “Events of Default”) constitute defaults under this Lease:
(a) Failure of Tenant to pay when due (i) Tenant fails an installment of the Rent or any other amount payable to pay any Rent on the date due (a “Monetary Default”)Landlord hereunder; or (ii) any other monetary obligation or covenant of Tenant under this Lease (including, without limitation, insurance premiums owing for insurance required of Tenant hereunder), which failure is not cured within five (5) business days of written notice thereof from Landlord;
(b) Failure of Tenant to comply with any non-monetary term, condition or covenant of this Lease, which failure is not cured within fifteen (15) business days of written notice thereof from Landlord; provided, however, that in the event that such default cannot be reasonably cured within such fifteen (15) business day period, Tenant shall not be deemed in default hereunder so long as Tenant begins efforts to cure the default within such period and thereafter diligently prosecutes the cure of the default to completion within sixty (60) calendar days of Landlord’s written notice of default; Notwithstanding the foregoing to the contrary, in the event that Tenant fails to comply with any provision of Section 5.03(e), it shall be an event of default if Tenant fails to cure any other default, such as, but not limited to, breach by the performance earlier of any other covenant or agreement (i) fifteen (15) business days following written notice of this Lease, or any rules and regulations attached to this Lease, or promulgated by Landlord under this Lease (a “Nonmonetary Default”); or (iii) Tenant fails to fulfill any of the material terms or conditions of this Lease following the giving of applicable notice and opportunity to cure or (iv) the appointment of a trustee or a receiver to take possession of all or substantially all of Tenant’s assets occurs, or if the attachment, execution or other judicial seizure of all or substantially all of Tenant’s assets located at the Premises, or of Tenant’s interest in this Lease, occursbreach from Landlord, or (vii) Tenant or three business days prior to the deadline for cure of any breach of its successors or assigns or surety of Tenant’s obligations should file applicable law imposed by any voluntary petition governmental entity having jurisdiction over hazardous materials in bankruptcy, reorganization or arrangementthe Premises.
(c) Insolvency of, or an the making of a transfer in fraud of creditors or a general assignment for the benefit of creditors by, Tenant or a Guarantor of Tenant’s obligations under this Lease;
(d) Filing of a petition under any section or chapter of the United States Bankruptcy Code, as amended, or under any similar law or statute of the United States or any State thereof, by Tenant or by a Guarantor of Tenant’s obligations under this Lease, or entry of an order for relief in a bankruptcy proceeding, against Tenant or a Guarantor;
(e) Appointment of a receiver, trustee or liquidator of Tenant or of a Guarantor or for similar relief under any present all or future statute, law or regulation relating to relief substantially all of debtors, or (vi) the assets of Tenant or any of its successors or assigns should be adjudicated bankrupt or have an involuntary petition in bankruptcy, reorganization or arrangement filed against it which is not dismissed within ninety (90) days, or (vii) Tenant shall permit, allow or suffer to exist any lien, judgment, writ, assessment, charge, attachment or execution upon Landlord’s or a Guarantor of Tenant’s interest in obligations under this Lease Lease; and
(f) So long as prior to Tenant’s abandonment or to cessation of use of any substantial portion of the Premises, and/or Tenant has removed all animals from the fixtures, vivarium and improvements and furnishings located thereon and fails within thirty (30) days either to discharge cleaned the same or provide a bond transferring same, thenvivarium area, Tenant shall not be in default hereunder, or (viii) hereunder so long as it continues to pay Rent when due hereunder and perform the leasehold estate granted to Tenant by other covenants of this Lease is taken on execution or other process of law or equity in any action against TenantLease.
Appears in 2 contracts
Sources: Lease Agreement (Peloton Therapeutics, Inc.), Lease Agreement (Peloton Therapeutics, Inc.)
Events of Default by Tenant. If Subject to the cure periods set forth in Section 20.6, each of the following events shall be deemed to constitute an "EVENT OF DEFAULT" hereunder by Tenant and shall constitute a breach of this Lease:
(i) If Tenant fails shall fail to pay when due any Rent on the date due (a “Monetary Default”)or other payment of money to be made by Tenant hereunder; or or
(ii) If Tenant fails to cure any other default, such as, but not limited to, the performance of any other covenant shall violate or agreement of this Leasebreach, or shall fail fully and completely to observe, keep, satisfy, perform and comply with, any rules and regulations attached to this Leaseagreement, term, covenant, condition, requirement, restriction or promulgated by Landlord under provisions of this Lease (a “Nonmonetary Default”other than the payment of Rent or any other payment to be made by Tenant); or or
(iii) If Tenant fails to fulfill any of becomes insolvent, as defined in the material terms or conditions of this Lease following the giving of applicable notice and opportunity to cure Federal Bankruptcy Code, ▇▇▇▇▇▇▇ ▇▇, ▇▇▇▇▇▇▇ ▇▇▇, ▇▇▇▇▇▇▇▇▇ (▇▇)(▇), (▇) or (ivC) the appointment (as if Paragraph (C) applied to all types of a trustee or a receiver to take possession of all or substantially all of Tenant’s assets occursentities), or if the attachment, execution or other judicial seizure of all or substantially all of Tenant’s assets located at the Premises, or of Tenant’s interest in this Lease, occurs, or (v) Tenant or any of its successors or assigns or surety of Tenant’s obligations should file any voluntary petition in bankruptcy, reorganization or arrangement, or makes an assignment for the benefit of creditors creditors; or if any action is brought by Tenant seeking its dissolution or the liquidation of its assets or seeking the appointment of a trustee, interim trustee, receiver or other custodian for similar relief under any present or future statute, law or regulation relating to relief of debtors, or (vi) Tenant or any of its successors property; or assigns should be adjudicated bankrupt if Tenant commences a voluntary proceeding under the Federal Bankruptcy Code; or have an involuntary petition in bankruptcy, if any reorganization or arrangement filed proceeding is instituted by Tenant for the settlement, readjustment, composition or extension of any of its debts upon any terms; or if any action or petition is otherwise brought by Tenant seeking similar relief or alleging that it is insolvent or unable to pay its debts as they mature; or if any action is brought against it which Tenant seeking its dissolution or liquidation of any of its assets, or seeking the appointment of a trustee, interim trustee, receiver or other custodian for any of its property, and any such action is consented to or acquiesced in by Tenant or is not dismissed within ninety (90) daysdays after the date upon which it was instituted; or if any proceeding under the Federal Bankruptcy Code is instituted against Tenant and an order for relief is entered in such proceeding or such proceeding is consented to or acquiesced in by Tenant or is not dismissed within ninety (90) days after the date upon which it was instituted; or if any reorganization or arrangement proceeding is instituted against Tenant for the settlement, readjustment, composition or extension of any of its debts upon any terms, and such proceeding is consented to or acquiesced in by Tenant or is not dismissed within ninety (90) days after the date upon which it was instituted; or if any action or petition is otherwise brought against Tenant seeking similar relief or alleging that it is insolvent, unable to pay its debts as they mature or generally not paying its debts as they become due, and such action or petition is consented to or acquiesced in by Tenant or is not dismissed within ninety (90) days after the date upon which it was brought; or
(iv) If any assignment or other Transfer of Tenant's interest in this Lease, or the Premises, the Improvements and/or the Furnishings other than as may be expressly permitted under this Lease shall be made or deemed to be made without Landlord's consent, which consent may be withheld or granted in Landlord's sole discretion; or
(v) If the Premises are used or permitted to be used for any purpose, or for the conduct of any activity, not permitted by this Lease, and such use or activity shall not have been discontinued within five (5) days after the receipt of Landlord's written notice thereof to Tenant; or
(vi) If Tenant shall vacate, abandon or close the Premises or cease operating during the full operating hours required hereunder; or
(vii) If Tenant shall fail to comply with any Project Requirements, or any Operating Conditions, Rules or Regulations attached hereto as Exhibit F, or thereafter promulgated by Landlord with respect to the Premises and such default is not cured within * days after receipt of notice thereof; provided, however, if such default cannot reasonably be cured within a * day period, it shall not be deemed a default hereunder if Tenant immediately and diligently commences and prosecutes such cure to completion, which, in any event, shall be completed within 30 days after receipt of notice thereof; or
(viii) If any license, permit, certificate or agreement required for the operation of the Premises shall fail to issue on or before the Commencement Date, or thereafter shall be terminated, revoked or not renewed and is not reinstated within * days thereafter; provided, however, if such default cannot reasonably be cured within a * day period, it shall not be deemed a default hereunder if Tenant immediately and diligently commences and prosecutes such cure to completion, which, in any event, shall be completed within 30 days after receipt of notice thereof; or
(ix) If (a) any final judgment is entered in any litigation against Tenant or any of Tenant's Affiliates, or (viib) any settlement of any litigation is entered into by any of the foregoing, which judgment or settlement materially and adversely affects Tenant's ability to perform any of its respective obligations hereunder (or would result in Tenant being in default hereunder); or
(x) Any final judgment in any litigation is rendered against any of Tenant and/or any of Tenant's Affiliates holding that any of the foregoing have breached or infringed on any contract, license, trademark or other rights of third parties, in connection with the names, logos, Merchandise or concepts employed in the design and/or operation of the Premises, or if Tenant and/or any of Tenant's Affiliates consent to the settlement of any litigation involving any of the foregoing claims by agreeing to materially limit, diminish or change the design, names, logos, Merchandise or concepts employed in the design and/or operation of the Premises; or
(xi) If Tenant shall permitfail to comply with any of the terms, allow or suffer to exist any liencovenants and/or conditions of this Lease, judgment, writ, assessment, charge, attachment or execution upon Landlord’s or Tenant’s interest the breach of which are expressly provided in this Lease as being events of default. For the purposes of the events of default specified above, the word "TENANT" shall specifically include, without limitation: (i) any party comprising Tenant, should more than one person or to the Premises, and/or the fixtures, and improvements and furnishings located thereon and fails within thirty (30) days either to discharge the same or provide a bond transferring same, then, Tenant shall be in default hereunder, or (viii) the leasehold estate granted to Tenant by entity execute this Lease is taken on execution as Tenant; (ii) any person or other process entity now or hereafter liable, whether primarily, secondarily or contingently, for the performance of law the duties and obligations of Tenant under this Lease including without limitation any principal, maker, endorser, guarantor or equity in surety; (iii) if Tenant or any action against Tenantparty comprising Tenant be a general partnership or a limited partnership, any general partner thereof; (iv) if Tenant or any party comprising Tenant be a joint venture, any joint venturer thereof; and (v) if Tenant or any party comprising Tenant be a corporation, any officer, director or shareholder thereof. * - Redacted Text - Confidential treatment requested; omitted portions have been filed separately with the Securities and Exchange Commission.
Appears in 2 contracts
Sources: Lease Agreement (Build a Bear Workshop Inc), Lease Agreement (Build a Bear Workshop Inc)
Events of Default by Tenant. If (i) In the event of any failure of Tenant fails to pay any Rent on the date rental or other sums of money when due (a “Monetary Default”)hereunder; or (ii) Tenant fails any failure to cure observe or perform any other defaultof the terms, such as, but not limited to, the performance of any other covenant conditions or agreement covenants of this Lease, including but not limited to the Building Rules, to be observed or any rules and regulations attached performed by Tenant for more than twenty (20) days after written notice thereof shall have been given to this Lease, or promulgated by Landlord under this Lease (a “Nonmonetary Default”)Tenant; or (iii) Tenant fails to fulfill any of the material terms or conditions of this Lease following the giving of applicable notice and opportunity to cure or (iv) the appointment of a trustee or a receiver to take possession of all or substantially all of Tenant’s assets occurs, or if the attachment, execution or other judicial seizure of all or substantially all of Tenant’s assets located at the Premises, or of Tenant’s leasehold interest in this Lease, occurs, or (v) Tenant or any of its successors or assigns or surety of Tenant’s obligations should file any voluntary petition in bankruptcy, reorganization or arrangement, or an assignment for the benefit of creditors or for similar relief under any present or future statute, law or regulation relating to relief of debtors, or (vi) Tenant or any of its successors or assigns should be adjudicated bankrupt or have an involuntary petition in bankruptcy, reorganization or arrangement filed against it which is not dismissed within ninety (90) days, or (vii) Tenant shall permit, allow or suffer to exist any lien, judgment, writ, assessment, charge, attachment or execution upon Landlord’s or Tenant’s interest in this Lease or to the Premises, and/or the fixtures, and improvements and furnishings located thereon and fails within thirty (30) days either to discharge the same or provide a bond transferring same, then, Tenant shall be in default hereunder, or (viii) the leasehold estate granted to Tenant by this Lease is taken on execution or other process of law against Tenant; or equity if Tenant or an agent of Tenant shall falsify any report required to be furnished to Landlord pursuant to the terms of this Lease; or if Tenant shall fail to accept the Leased Premises, or to promptly move into, take possession of, and operate its business on the Leased Premises when the Leased Premises are substantially complete; or if Tenant ceases to do business in or abandons any substantial portion of the Leased Premises; or if Tenant should at any time during the continuance of the Lease remove or attempt to remove the goods, furniture, effects, improvements and personal property brought thereon out of or from the Leased Premises (except in the ordinary course of business), without having paid in full all rent and other applicable charges which shall become due during the term of this Lease; or, if Tenant or any Guarantor of this Lease shall become bankrupt or insolvent, or file a petition in bankruptcy or insolvency or for reorganization or for the appointment of a receiver or trustee of all or a portion of Tenant’s or any Guarantor’s property; or if a petition or answer proposing the adjudication of Tenant or any Guarantor as a bankrupt or its reorganization under any present or future federal or state bankruptcy or similar law shall be filed in any action against Tenantcourt and such petition or answer shall not be discharged or denied within sixty (60) days after the filing thereof; or if Tenant or any Guarantor makes an assignment for the benefit of creditors, or petitions for or enters into an arrangement, or suffers this Lease to be taken under any writ of execution, then, in any of such events, Tenant shall be deemed in breach and default of this Lease and Landlord, in its discretion and at its election, and in addition to all other rights and remedies it may have in law or in equity, shall also be entitled to those rights and remedies enumerated below.
Appears in 2 contracts
Sources: Lease Agreement (Vision Bancshares Inc), Lease Agreement (Vision Bancshares Inc)
Events of Default by Tenant. If The following events shall be deemed to be events of default or a default (ias defined herein) by Tenant under this Lease:
(a) Tenant fails shall fail to pay when due any Rent on or other sums payable by Tenant hereunder (or under any other lease or lease amendment now or hereafter executed by Tenant in connection with space in the date due Building) and such failure shall continue for five (a “Monetary Default”5) days after Tenant’s receipt of written notice therefore from Landlord (provided that Landlord shall only be obligated to give Tenant written notice of any default for failure to pay Rent twice in any twelve (12) month period, and thereafter Tenant shall be deemed in default immediately after failure to make such payment without requirement of notice from Landlord); or .
(iib) Tenant fails shall fail to cure comply with or observe any other default, such as, but not limited to, the performance provision of any other covenant or agreement of this Lease, or any rules and regulations attached to this Lease, or promulgated by Landlord under this Lease (a “Nonmonetary Default”or any other lease or lease amendment now or hereafter executed by Tenant in connection with space in the Building); or , and such breach shall continue for thirty (iii30) Tenant fails days after Tenant’s receipt of written notice from Landlord of such breach (unless with respect to fulfill any of the material terms or conditions of this Lease following the giving of applicable notice default which cannot be cured within thirty (30) days due to causes beyond Tenant’s reasonable control, Tenant, in good faith, after receiving such notice, shall have commenced and opportunity thereafter shall continue diligently to perform all action necessary to cure or such default.
(iv) the appointment of a trustee or a receiver to take possession of all or substantially all of Tenant’s assets occurs, or if the attachment, execution or other judicial seizure of all or substantially all of Tenant’s assets located at the Premises, or of Tenant’s interest in this Lease, occurs, or (vc) Tenant or any of its successors or assigns or surety guarantor of Tenant’s obligations should file any voluntary petition in bankruptcy, reorganization or arrangement, or hereunder shall make an assignment for the benefit of creditors or for similar relief under any present or future statute, law or regulation relating to relief of debtors, or creditors.
(vid) Any petition shall be filed by Tenant or any guarantor of its successors Tenant’s obligations hereunder under any section or assigns should chapter of the Bankruptcy Code, as amended, or under any similar law or statute of the United States or any State thereof; or Tenant or any guarantor of Tenant’s obligations shall be adjudicated adjudged bankrupt or have an involuntary petition insolvent in bankruptcy, reorganization proceedings filed thereunder.
(e) A receiver or arrangement filed against it which is not dismissed within ninety (90) days, Trustee shall be appointed for all or (vii) substantially all of the assets of Tenant shall permit, allow or suffer to exist any lien, judgment, writ, assessment, charge, attachment or execution upon Landlord’s or guarantor of Tenant’s interest in this Lease obligations hereunder.
(f) Upon transfer of assets by Tenant or to Guarantor outside the Premises, and/or the fixtures, and improvements and furnishings located thereon and fails within thirty (30) days either to discharge the same or provide a bond transferring same, then, Tenant shall be in default hereunder, or (viii) the leasehold estate granted to Tenant by this Lease is taken on execution or other process ordinary course of law or equity in any action against Tenantbusiness.
Appears in 2 contracts
Sources: Office Building Lease Agreement, Office Building Lease Agreement (Rackspace Inc)
Events of Default by Tenant. If (i) In the event of any failure of Tenant fails to pay any Rent on the date rental or other sums of money when due (a “Monetary Default”)hereunder; or (ii) Tenant fails any failure to cure observe or perform any other defaultof the terms, such as, but not limited to, the performance of any other covenant conditions or agreement covenants of this Lease, including but not limited to the Building Rules, to be observed or any rules and regulations attached performed by Tenant for more than ten (10) days after written notice thereof shall have been given to this Lease, or promulgated by Landlord under this Lease (a “Nonmonetary Default”)Tenant; or (iii) Tenant fails to fulfill any of the material terms or conditions of this Lease following the giving of applicable notice and opportunity to cure or (iv) the appointment of a trustee or a receiver to take possession of all or substantially all of Tenant’s assets occurs, or if the attachment, execution or other judicial seizure of all or substantially all of Tenant’s assets located at the Premises, or of Tenant’s 's leasehold interest in this Lease, occurs, or (v) Tenant or any of its successors or assigns or surety of Tenant’s obligations should file any voluntary petition in bankruptcy, reorganization or arrangement, or an assignment for the benefit of creditors or for similar relief under any present or future statute, law or regulation relating to relief of debtors, or (vi) Tenant or any of its successors or assigns should be adjudicated bankrupt or have an involuntary petition in bankruptcy, reorganization or arrangement filed against it which is not dismissed within ninety (90) days, or (vii) Tenant shall permit, allow or suffer to exist any lien, judgment, writ, assessment, charge, attachment or execution upon Landlord’s or Tenant’s interest in this Lease or to the Premises, and/or the fixtures, and improvements and furnishings located thereon and fails within thirty (30) days either to discharge the same or provide a bond transferring same, then, Tenant shall be in default hereunder, or (viii) the leasehold estate granted to Tenant by this Lease is taken on execution or other process of law against Tenant; or equity if Tenant or an agent of Tenant shall falsify any report required to be furnished to Landlord pursuant to the terms of this Lease; or if Tenant shall fail to accept the Leased Premises, or to promptly move into, take possession of, and operate its business on the Leased Premises when the Leased Premises are substantially complete; or if Tenant ceases to do business in or abandons any substantial portion of the Leased Premises; or if Tenant should at any time during the continuance of the Lease remove or attempt to remove the goods, furniture, effects, improvements and personal property brought thereon out of or from the Leased Premises (except in the ordinary course of business), without having paid in full all rent and other applicable charges which shall become due during the term of this Lease; or, if Tenant or any Guarantor of this Lease shall become bankrupt or insolvent, or file a petition in bankruptcy or insolvency or for reorganization or for the appointment of a receiver or trustee of all or a portion of Tenant's or any Guarantor's property; or if a petition or answer proposing the adjudication of Tenant or any Guarantor as a bankrupt or its reorganization under any present or future federal or state bankruptcy or similar law shall be filed in any action against Tenantcourt and such petition or answer shall not be discharged or denied within sixty (60) days after the filing thereof; or if Tenant or any Guarantor makes an assignment for the benefit of creditors, or petitions for or enters into an arrangement, or suffers this Lease to be taken under any writ of execution, then, in any of such events, Tenant shall be deemed in breach and default of this Lease and Landlord, in its discretion and at its election, and in addition to all other rights and remedies it may have in law or in equity, shall also be entitled to those rights and remedies enumerated below.
Appears in 2 contracts
Sources: Lease Agreement (Vision Bancshares Inc), Lease Agreement (Vision Bancshares Inc)
Events of Default by Tenant. If It shall be an Event of Default under this Lease, if (i) Tenant fails to pay any Fixed Rent on the date due or additional rent for more than ten (a “Monetary Default”)10) days, after notice thereof specifying such failure and that such failure may be an Event of Default hereunder; or (ii) Tenant fails to perform its other non-monetary obligations hereunder for more than thirty (30) days after notice thereof from Landlord, together with such additional time, if any, as is reasonably required to cure any other default, the default if the default is of such as, but a nature that it cannot limited to, the performance of any other covenant or agreement of this Lease, or any rules and regulations attached to this Lease, or promulgated by Landlord under this Lease reasonably be cured in thirty (a “Nonmonetary Default”)30) days; or (iii) if Tenant fails to fulfill makes any of the material terms or conditions of this Lease following the giving of applicable notice and opportunity to cure or (iv) the appointment of a trustee or a receiver to take possession of all or substantially all of Tenant’s assets occurs, or if the attachment, execution or other judicial seizure of all or substantially all of Tenant’s assets located at the Premises, or of Tenant’s interest in this Lease, occurs, or (v) Tenant or any of its successors or assigns or surety of Tenant’s obligations should file any voluntary petition in bankruptcy, reorganization or arrangement, or an assignment for the benefit of creditors creditors, or for similar relief files a petition under any present bankruptcy or future statute, law or regulation relating to relief of debtors, insolvency law; or (viiv) Tenant or any of its successors or assigns should be adjudicated bankrupt or have an involuntary if such a petition in bankruptcy, reorganization or arrangement is filed against it which Tenant and is not dismissed within sixty (60) days; or (v) if a receiver becomes entitled to Tenant's leasehold hereunder and it is not returned to Tenant within ninety (90) days, ; or (viivi) Tenant shall permit, allow or suffer to exist any lien, judgment, writ, assessment, charge, attachment or execution upon Landlord’s or Tenant’s interest in this Lease or to the Premises, and/or the fixtures, and improvements and furnishings located thereon and fails within thirty (30) days either to discharge the same or provide a bond transferring same, then, Tenant shall be in default hereunder, or (viii) the such leasehold estate granted to Tenant by this Lease is taken on execution or other process of law or equity in any action against Tenant; then, and in any such cases, Landlord and the agents and servants of Landlord may, in addition to and not in derogation of any remedies for any preceding breach of covenant, immediately or at any time thereafter while such default continues and without further notice, enter into and upon the Premises or any part thereof in the name of the whole or mail a notice of termination addressed to Tenant at the Premises and repossess the same as of Landlord's former estate and expel Tenant and those claiming through or under Tenant and remove its and their effects without being deemed guilty of any manner of trespass and without prejudice to any remedies which might otherwise be used for arrears of rent or prior breach of covenant, and upon such entry or mailing as aforesaid, this Lease shall terminate, but Tenant shall remain liable as hereinafter provided. After the occurrence of an Event of Default as aforesaid, Tenant hereby waives all statutory rights of redemption, if any to the extent such rights may be lawfully waived, and Landlord, without notice to Tenant, may store Tenant's effects and those of any person claiming through or under Tenant at the expense and risk of Tenant and, if Landlord so elects, may sell such effects at public auction or private sale and apply the net proceeds to the payment of all sums due to Landlord from Tenant, if any, and pay over the balance, if any, to Tenant.
Appears in 2 contracts
Sources: Lease Agreement (Unisphere Networks Inc), Lease Agreement (Unisphere Solutions Inc)
Events of Default by Tenant. If The occurrence of any of the following shall constitute a material default and breach of this Lease by Tenant:
(iA) The failure by Tenant fails to pay any Base Rent on the date due (a “Monetary Default”); or (ii) Tenant fails to cure make any other default, such as, but not limited to, payment required to be made by Tenant hereunder as and when due.
(B) The abandonment of the performance Premises by Tenant or the vacation of the Premises by Tenant for fourteen (14) consecutive days (with or without the payment of Rent).
(C) The making by Tenant of any other covenant assignment of this Lease or agreement any sublease of all or part of the Premises, except as expressly permitted under Article XIV of this Lease, .
(D) The failure by Tenant to observe or perform any rules and regulations attached to this Lease, or promulgated by Landlord under this Lease (a “Nonmonetary Default”); or (iii) Tenant fails to fulfill any of the material terms or conditions other provision of this Lease following to be observed or performed by Tenant, other than those described in Sections 15.01(A), 15.01(B) or 15.01 (C) above, if such failure continues for fifteen (15) days after written notice thereof by Landlord to Tenant; provided, however, that if the giving nature of applicable notice the default is such that it cannot be cured within the fifteen (15) day period, no default shall exist if Tenant commences the curing of the default within the fifteen (15) day period and opportunity thereafter diligently prosecutes the same to cure completion.
(E) The making by Tenant or its Guarantor of any general assignment for the benefit of creditors, the filing by or against Tenant or its Guarantor of a petition under any federal or state bankruptcy or insolvency laws (ivunless, in the case of a petition filed against Tenant or its Guarantor the same is dismissed within thirty (30) days after filing); the appointment of a trustee or a receiver to take possession of all or substantially all of Tenant’s assets occursat the Premises or Tenant’s interest in this Lease or the Premises, when possession is not restored to Tenant within thirty (30) days; or if the attachment, execution or other judicial seizure of all or substantially all of Tenant’s assets located at the Premises, or of Tenant’s interest in this Lease, occurs, or (v) Tenant or any of its successors or assigns or surety of Tenant’s obligations should file any voluntary petition in bankruptcy, reorganization or arrangement, or an assignment for the benefit of creditors or for similar relief under any present or future statute, law or regulation relating to relief of debtors, or (vi) Tenant or any of its successors or assigns should be adjudicated bankrupt or have an involuntary petition in bankruptcy, reorganization or arrangement filed against it which is not dismissed within ninety (90) days, or (vii) Tenant shall permit, allow or suffer to exist any lien, judgment, writ, assessment, charge, attachment or execution upon Landlord’s Premises or Tenant’s interest in this Lease or to the Premises, and/or the fixtures, and improvements and furnishings located thereon and fails if such seizure is not discharged within thirty (30) days either to discharge the same or provide a bond transferring same, then, Tenant shall be in default hereunderdays.
(F) Any material misrepresentation herein, or (viii) the leasehold estate granted to material misrepresentation or omission in any financial statements or other materials provided by Tenant by or any Guarantor in connection with negotiating or entering into this Lease is taken on execution or other process of law or equity in connection with any action against TenantTransfer under Section 14.01.
Appears in 2 contracts
Sources: Office Lease (Barfresh Food Group Inc.), Office Lease (Derycz Scientific Inc)
Events of Default by Tenant. If The occurrence of any of the following shall constitute a material default and breach of this Lease by Tenant:
(iA) The failure by Tenant fails to pay any Base Rent on the date due (a “Monetary Default”); or (ii) Tenant fails to cure make any other default, such as, but not limited to, payment required to be made by Tenant hereunder as and when due.
(B) The abandonment of the performance Premises by Tenant or the vacation of the Premises by Tenant for fourteen (14) consecutive days (with or without the payment of Rent).
(C) The making by Tenant of any other covenant assignment of this Lease or agreement any sublease of all or part of the Premises, except as expressly permitted under Article XIV of this Lease, .
(D) The failure by Tenant to observe or perform any rules and regulations attached to this Lease, or promulgated by Landlord under this Lease (a “Nonmonetary Default”); or (iii) Tenant fails to fulfill any of the material terms or conditions other provision of this Lease following to be observed or performed by Tenant, other than those described in Sections 15.01(A), 15.01(B) or 15.01 (C) above, if such failure continues for ten (10) days after written notice thereof by Landlord to Tenant; provided, however, that if the giving nature of applicable the default is such that it cannot be cured within the ten (10) day period, no default shall exist if Tenant commences the curing of the default within the ten (10) day period and thereafter diligently prosecutes the same to completion. The ten (10) day notice described herein shall be in lieu of, and opportunity not in addition to, any notice required under Section 1161 of the California Civil Code of Procedure or any other law now or hereafter in effect requiring that notice of default be given prior to cure the commencement of an unlawful detainer or other legal proceeding.
(ivE) The making by Tenant or its Guarantor of any general assignment for the benefit of creditors, the filing by or against Tenant or its Guarantor of a petition under any federal or state bankruptcy or insolvency laws (unless, in the case of a petition filed against Tenant or its Guarantor the same is dismissed within thirty (30) days after filing); the appointment of a trustee or a receiver to take possession of all or substantially all of Tenant’s 's assets occursat the Premises or Tenant's interest in this Lease or the Premises, when possession is not restored to Tenant within thirty (30) days; or if the attachment, execution or other judicial seizure of all or substantially all of Tenant’s 's assets located at the Premises, or of Tenant’s interest in this Lease, occurs, or (v) Tenant or any of its successors or assigns or surety of Tenant’s obligations should file any voluntary petition in bankruptcy, reorganization or arrangement, or an assignment for the benefit of creditors or for similar relief under any present or future statute, law or regulation relating to relief of debtors, or (vi) Tenant or any of its successors or assigns should be adjudicated bankrupt or have an involuntary petition in bankruptcy, reorganization or arrangement filed against it which is not dismissed within ninety (90) days, or (vii) Tenant shall permit, allow or suffer to exist any lien, judgment, writ, assessment, charge, attachment or execution upon Landlord’s Premises or Tenant’s 's interest in this Lease or to the Premises, and/or the fixtures, and improvements and furnishings located thereon and fails if such seizure is not discharged within thirty (30) days either to discharge the same or provide a bond transferring same, then, Tenant shall be in default hereunderdays.
(F) Any material misrepresentation herein, or (viii) the leasehold estate granted to material misrepresentation or omission in any financial statements or other materials provided by Tenant by or any Guarantor in connection with negotiating or entering into this Lease is taken on execution or other process of law or equity in connection with any action against TenantTransfer under Section 14.01.
Appears in 2 contracts
Sources: Commercial Lease (Powersource Corp), Commercial Lease (Powersource Corp)
Events of Default by Tenant. If (i) Tenant fails to pay any Rent on the date due (a “Monetary Default”); or (ii) Tenant fails to cure any other default, such as, but not limited to, the performance The occurrence of any other covenant or agreement of this Lease, or any rules and regulations attached to this Lease, or promulgated by Landlord under this Lease (a “Nonmonetary Default”); or (iii) Tenant fails to fulfill any of the following shall constitute a material terms or conditions default and breach of this Lease following by Tenant:
(A) The failure by Tenant to pay Base Rent or make any other payment required to be made by Tenant hereunder as and when due.
(B) The abandonment of the giving Premises by Tenant or the vacation of applicable the Premises by Tenant for fourteen (14) consecutive days (without the payment of Rent).
(C) The failure by Tenant to observe or perform any other provision of this Lease to be observed or performed by Tenant, other than those described in Sections 15.01(A) and 15.01(B) above, if such failure continues for ten (10) days after written notice thereof by Landlord to Tenant; provided, however, that if the nature of the default is such that it cannot be cured within the ten (10) day period, no default shall exist if Tenant commences the curing of the default within the ten (10) day period and opportunity thereafter diligently prosecutes the same to cure completion. The ten (10) day notice described herein shall be in lieu of, and not in addition to, any notice required under law now or hereafter in effect requiring that notice of default be given prior to the commencement of an unlawful detainer or other legal proceeding.
(ivD) The making by Tenant or its Guarantor of any general assignment for the benefit of creditors, the filing by or against Tenant or its Guarantor of a petition under any federal or state bankruptcy or insolvency laws (unless, in the case of a petition filed against Tenant or its Guarantor the same is dismissed within thirty (30) days after filing); the appointment of a trustee or a receiver to take possession of all or substantially all of Tenant’s 's assets occursat the Premises or Tenant's interest in this Lease or the Premises, when possession is not restored to Tenant within thirty (30) days; or if the attachment, execution or other judicial seizure of all or substantially all of Tenant’s 's assets located at the Premises, or of Tenant’s interest in this Lease, occurs, or (v) Tenant or any of its successors or assigns or surety of Tenant’s obligations should file any voluntary petition in bankruptcy, reorganization or arrangement, or an assignment for the benefit of creditors or for similar relief under any present or future statute, law or regulation relating to relief of debtors, or (vi) Tenant or any of its successors or assigns should be adjudicated bankrupt or have an involuntary petition in bankruptcy, reorganization or arrangement filed against it which is not dismissed within ninety (90) days, or (vii) Tenant shall permit, allow or suffer to exist any lien, judgment, writ, assessment, charge, attachment or execution upon Landlord’s Premises or Tenant’s 's interest in this Lease or to the Premises, and/or the fixtures, and improvements and furnishings located thereon and fails if such seizure is not discharged within thirty (30) days either to discharge the same or provide a bond transferring same, then, Tenant shall be in default hereunderdays.
(E) Any material misrepresentation herein, or (viii) the leasehold estate granted to material misrepresentation or omission in any financial statements or other materials provided by Tenant by or any Guarantor in connection with negotiating or entering into this Lease is taken on execution or other process of law or equity in connection with any action against TenantTransfer under Section 14.01.
Appears in 2 contracts
Sources: Office Lease (Treaty Oak Bancorp Inc), Office Lease (Treaty Oak Bancorp Inc)
Events of Default by Tenant. If Each of the following shall constitute an "Event of Default" by Tenant under this Lease:
(a) if any Fixed Minimum Rent or Additional Rent is not paid when due and such default continues for a period of five (5) days after written notice from Landlord (provided that no notice shall be required if notice of non-payment has been delivered within the preceding 6 months); or
(b) if the provisions of Section 6.3 (Hazardous Materials) are not fully complied with; or
(c) if the provisions of Section 12.1 (Landlord's Consent Required) are not fully complied with; or
(d) if the obligations of Tenant to maintain insurance coverages under Section 8 are not fully complied with; or
(e) if Tenant shall desert, vacate or abandon the Premises or any substantial portion thereof; or
(f) if Tenant commits any default under the terms of this Lease other than a default described in Section 13.1(a), (b), (c), (d) or (e), and such default continues for thirty (30) days after written notice (except that if such default cannot be completely cured within thirty (30) days, it shall not be an Event of Default if Tenant gives Landlord written notice of Tenant's plan to effect the cure and starts the cure within the thirty (30) day period, in good faith continually proceeds with due diligence to cure such default, and completely cures such default within one hundred twenty (120) days after the delivery of the default notice); or
(i) if Tenant fails shall generally not pay its debts as they become due or shall admit in writing its inability to pay any Rent on its debts, or shall make a general assignment for the date due (a “Monetary Default”); benefit of creditors, or (ii) if Tenant fails shall commence any case, proceeding or other action seeking reorganization, arrangement, adjustment, liquidation, dissolution or composition of it or its debts under any law relating to cure any other defaultbankruptcy, such asinsolvency, but not limited to, the performance reorganization or relief of any other covenant or agreement of this Leasedebtors, or seeking appointment of a receiver, trustee, custodian or other similar official for it or for all or any rules and regulations attached to this Leasesubstantial part of its property, or promulgated by Landlord under this Lease (a “Nonmonetary Default”); or (iii) if Tenant fails shall take any corporate, partnership, or limited liability company action to fulfill authorize any of the material terms actions set forth in subsections (i) or conditions of this Lease following the giving of applicable notice and opportunity to cure (ii) above, or (iv) the if any case, proceeding or other action against Tenant shall be commenced seeking to have an order for relief entered against it as debtor, or seeking reorganization, arrangement, adjustment, liquidation, dissolution or composition of it or its debts under any law relating to bankruptcy, insolvency, reorganization or relief of debtors, or seeking appointment of a trustee receiver, trustee, custodian or a receiver to take possession of other similar official for it or for all or substantially all any substantial part of Tenant’s assets occursits property, and such case, proceeding or other action (A) results in the entry of an order for relief against it that is not fully stayed within seven (7) business days after the entry thereof, or if the attachment, execution or other judicial seizure (B) remains undismissed for a period of all or substantially all of Tenant’s assets located at the Premises, or of Tenant’s interest in this Lease, occursforty-five (45) days, or (v) if any execution, attachment or mechanics' lien against Tenant shall be unsatisfied or unsecured by adequate corporate surety bond or cash security for more than five (5) days; or
(h) if this Lease is guaranteed, any event of default shall occur under any such guaranty; or
(i) if Tenant or any subsidiary or affiliate of its successors or assigns or surety Tenant shall lease other premises from Landlord, any event of Tenant’s obligations should file any voluntary petition in bankruptcy, reorganization or arrangement, or an assignment for the benefit of creditors or for similar relief default shall occur under any present or future statute, law or regulation relating to relief of debtors, or (vi) Tenant or any of its successors or assigns should be adjudicated bankrupt or have an involuntary petition in bankruptcy, reorganization or arrangement filed against it which is not dismissed within ninety (90) days, or (vii) Tenant shall permit, allow or suffer to exist any lien, judgment, writ, assessment, charge, attachment or execution upon Landlord’s or Tenant’s interest in this Lease or to the Premises, and/or the fixtures, and improvements and furnishings located thereon and fails within thirty (30) days either to discharge the same or provide a bond transferring same, then, Tenant shall be in default hereunder, or (viii) the leasehold estate granted to Tenant by this Lease is taken on execution or such other process of law or equity in any action against Tenantlease.
Appears in 1 contract
Sources: Lease (Cascade Wind Corp.)
Events of Default by Tenant. If The occurrence of any of the following shall constitute a material default and breach of this Lease by Tenant:
(iA) The failure by Tenant fails to pay any Base Rent on the date due (a “Monetary Default”); or (ii) Tenant fails to cure make any other default, such as, but not limited to, payment required to be made by Tenant hereunder as and when due.
(B) The abandonment of the performance Premises by Tenant or the vacation of the Premises by Tenant for fourteen (14) consecutive days (with or without the payment of Rent).
(C) The making by Tenant of any other covenant assignment of this Lease or agreement any sublease of all or part of the Premises, except as expressly permitted under Article XIV of this Lease, .
(D) The failure by Tenant to observe or perform any rules and regulations attached to this Lease, or promulgated by Landlord under this Lease (a “Nonmonetary Default”); or (iii) Tenant fails to fulfill any of the material terms or conditions other provisions of this Lease following to be observed or performed by Tenant, other than those described in Sections 15.01(A), 15.01(B) or 15.01(C) above, if such failure continues for thirty (30) days after written notice thereof by Landlord to Tenant; provided, however, that if the giving nature of applicable the default is such that it cannot be cured within the thirty (30) day period, no default shall be deemed to exist if Tenant commences the curing of the default promptly within such thirty (30) day period and thereafter diligently prosecutes the same to completion and achieves the same within sixty (60) days after the occurrence of such default. The thirty (30) day notice described herein shall be in lieu of, and opportunity not in addition to, any notice required under Section 1161 of the California Code of Civil Procedure or any other law now or hereafter in effect requiring that notice of default be given prior to cure the commencement of an unlawful detainer or other legal proceedings.
(ivE) The making by Tenant of any general assignment for the benefit of creditors, the filing by or against Tenant or any one or more of the Guarantors, if any, of a petition under any federal or state bankruptcy or insolvency laws (unless, in the case of a petition filed against Tenant or any one or more of the Guarantors, if any, the same is dismissed within thirty (30) days after filing); the appointment of a trustee or a receiver to take possession of all or substantially all of Tenant’s 's assets occursat the Premises or Tenant's interest in this Lease or the Premises, or if when possession is not restored to Tenant within thirty (30) days; the attachment, execution or other judicial seizure of all or substantially all of Tenant’s 's assets located at the Premises, or of Tenant’s interest in this Lease, occurs, or (v) Tenant or any of its successors or assigns or surety of Tenant’s obligations should file any voluntary petition in bankruptcy, reorganization or arrangement, or an assignment for the benefit of creditors or for similar relief under any present or future statute, law or regulation relating to relief of debtors, or (vi) Tenant or any of its successors or assigns should be adjudicated bankrupt or have an involuntary petition in bankruptcy, reorganization or arrangement filed against it which is not dismissed within ninety (90) days, or (vii) Tenant shall permit, allow or suffer to exist any lien, judgment, writ, assessment, charge, attachment or execution upon Landlord’s Premises or Tenant’s 's interest in this Lease or to the Premises, and/or the fixtures, and improvements and furnishings located thereon and fails if such seizure is not discharged within thirty (30) days either to discharge days; or the same death or provide a bond transferring samethe dissolution of Tenant or any one or more of the Guarantors, then, Tenant shall be in default hereunderif any.
(F) Any material misrepresentation herein, or (viii) the leasehold estate granted to material misrepresentation or omission in any financial statements or other materials provided by Tenant by in connection with negotiating or entering into this Lease is taken on execution or other process of law or equity in connection with any action against TenantTransfer under Section 14.01.
Appears in 1 contract
Sources: Sublease Agreement (Advanced Aerodynamics & Structures Inc/)
Events of Default by Tenant. If The occurrence of any of the following ---------------------------- shall constitute a material default and breach of this Lease by Tenant:
(iA) The failure by Tenant fails to pay Base Rent or make any Rent on the date other payment required to be made by Tenant hereunder as and when due (a “Monetary Default”); or it being agreed that Landlord shall give written notice and five (ii5) Tenant fails business days to cure the first two (2) times such failure occurs in any other default, twelve (12) month period before such as, but not limited to, the performance of any other covenant failure shall constitute a material default or agreement breach of this Lease, or any rules and regulations attached to this Lease, or promulgated by Landlord under this Lease )..
(a “Nonmonetary Default”); or (iiiB) Tenant fails to fulfill any The abandonment of the material terms Premises by Tenant or conditions the vacation of the Premises by Tenant for fourteen (14) consecutive days (with or without the payment of Rent).
(C) The making by Tenant of any assignment of this Lease following or any sublease of all or part of the giving Premises, except as expressly permitted under Article XIV of applicable this Lease.
(D) The failure by Tenant to observe or perform any other provision of this Lease to be observed or performed by Tenant, other than those described in Sections 15.01(A), 15.01(B) or 15.01 (C) above, if such failure continues for thirty (30) days after written notice thereof by Landlord to Tenant; provided, however, that if the nature of the default is such that it cannot be cured within the thirty (30) day period, no default shall exist if Tenant commences the curing of the default within the thirty (30) day period and opportunity thereafter diligently prosecutes the same to cure completion. The thirty (30) day notice described herein shall be in lieu of, and not in addition to, any notice required under law now or hereafter in effect requiring that notice of default be given prior to the commencement of an unlawful detainer or other legal proceeding.
(ivE) The making by Tenant or its Guarantor of any general assignment for the benefit of creditors, the filing by or against Tenant or its Guarantor of a petition under any federal or state bankruptcy or insolvency laws (unless, in the case of a petition filed against Tenant or its Guarantor the same is dismissed within thirty (30) days after filing); the appointment of a trustee or a receiver to take possession of all or substantially all of Tenant’s 's assets occursat the Premises or Tenant's interest in this Lease or the Premises, when possession is not restored to Tenant within thirty (30) days; or if the attachment, execution or other judicial seizure of all or substantially all of Tenant’s 's assets located at the Premises, or of Tenant’s interest in this Lease, occurs, or (v) Tenant or any of its successors or assigns or surety of Tenant’s obligations should file any voluntary petition in bankruptcy, reorganization or arrangement, or an assignment for the benefit of creditors or for similar relief under any present or future statute, law or regulation relating to relief of debtors, or (vi) Tenant or any of its successors or assigns should be adjudicated bankrupt or have an involuntary petition in bankruptcy, reorganization or arrangement filed against it which is not dismissed within ninety (90) days, or (vii) Tenant shall permit, allow or suffer to exist any lien, judgment, writ, assessment, charge, attachment or execution upon Landlord’s Premises or Tenant’s 's interest in this Lease or to the Premises, and/or the fixtures, and improvements and furnishings located thereon and fails if such seizure is not discharged within thirty (30) days either to discharge the same or provide a bond transferring same, then, Tenant shall be in default hereunderdays.
(F) Any material misrepresentation herein, or (viii) the leasehold estate granted to material misrepresentation or omission in any financial statements or other materials provided by Tenant by or any Guarantor in connection with negotiating or entering into this Lease is taken on execution or other process of law or equity in connection with any action against TenantTransfer under Section 14.01.
Appears in 1 contract
Sources: Office Lease (Igate Capital Corp)
Events of Default by Tenant. If Any of the following events shall constitute an “Event of Default” under this Lease:
(ia) Tenant fails to pay make any Rent on payment of money called for by any provision of this Lease (whether to Landlord or any third party) within fifteen (15) days after delivery of written notice by Landlord that the date payment is past due; or
(b) Tenant fails to perform fully and when due any of its other covenants, conditions or obligations under this Lease and after written notice from Landlord specifying the nature of such failure of Tenant, Tenant: (a “Monetary Default”); i) does not promptly commence taking all necessary and appropriate actions to remedy such failure, or (ii) does not thereafter diligently and continuously pursue all such remedial actions, or (iii) does not fully cure such failure within the minimum period of time reasonably required under the circumstances to achieve a cure, but in any event within ninety (90) days after Landlord’s written notice of such failure, time being strictly of the essence; provided, however, that Tenant fails shall not be entitled to cure the breach of any covenant that is “non-curable”; or
(c) any voluntary or involuntary assignment, transfer, encumbrance or subletting of this Lease occurs in violation of Section 11; or
(d) any material statement or disclosure made by Tenant to Landlord in order to induce Landlord to enter into this Lease is false or misleading; or
(e) any right or interest of Tenant is subjected to attachment, execution, or other defaultlevy, such asor to seizure under legal process, but which is not limited toreleased within sixty (60) days; or
(f) a receiver is appointed to take possession or control of the Property, the performance leasehold estate of any other covenant or agreement of Tenant under this Lease, or Tenant’s operations on the Property for any rules and regulations attached to this Leasereason, including assignment for benefit of creditors or promulgated by Landlord under this Lease voluntary or involuntary bankruptcy proceedings; or
(a “Nonmonetary Default”); or (iiig) Tenant fails to fulfill any of the material terms or conditions of this Lease following the giving of applicable notice and opportunity to cure or (iv) the appointment of makes a trustee or a receiver to take possession of all or substantially all of Tenant’s assets occurs, or if the attachment, execution or other judicial seizure of all or substantially all of Tenant’s assets located at the Premises, or of Tenant’s interest in this Lease, occurs, or (v) Tenant or any of its successors or assigns or surety of Tenant’s obligations should file any voluntary petition in bankruptcy, reorganization or arrangement, or an general assignment for the benefit of creditors or for similar relief a voluntary or involuntary petition is filed by or against Tenant under any present or future statute, law or regulation relating to relief for the purpose of debtorsadjudicating Tenant a bankrupt, or (vi) Tenant for extending time for payment, adjustment or any satisfaction of its successors Tenant’s liabilities, or assigns should be adjudicated bankrupt or have an involuntary petition in bankruptcyfor reorganization, reorganization dissolution or arrangement filed against it which is not dismissed within ninety (90) days, or (vii) Tenant shall permit, allow or suffer to exist any lien, judgment, writ, assessment, charge, attachment or execution upon Landlord’s or Tenant’s interest in this Lease on account of or to the Premisesprevent bankruptcy or insolvency, and/or the fixturesunless such assignment or proceeding, and improvements all consequent orders, adjudications, custodies and furnishings located thereon and fails supervisions are dismissed, vacated or otherwise permanently stayed or terminated within thirty sixty (3060) days either to discharge the same or provide a bond transferring sameafter such assignment, then, Tenant shall be in default hereunder, or (viii) the leasehold estate granted to Tenant by this Lease is taken on execution filing or other process of law or equity in any action against Tenantinitial event.
Appears in 1 contract
Sources: Ground Lease
Events of Default by Tenant. If The occurrence of any of the following shall constitute an "Event of Default" by Tenant:
(ia) Tenant fails to pay make any Rent on payment of rent when due, or any amount required to replenish the date due Security Deposit, if payment in full is not received by Landlord within ten (a “Monetary Default”); or 10) days after written notice to Tenant that it is due.
(iib) Tenant fails to cure any other default, such as, but not limited to, take occupancy of the performance of any other covenant Premises and open for business within sixty (60) days after the Commencement Date or agreement of this Lease, or any rules and regulations attached to this Lease, or promulgated by Landlord under this Lease abandons the Premises for more than 180 days.
(a “Nonmonetary Default”); or (iiic) Tenant fails timely to fulfill deliver any subordination document, estoppel certificate or financial statement requested by Landlord within the applicable time period specified in Sections 20 - Encumbrances - and 21 - Estoppel Certificates and Financial Statements - below.
(d) Tenant violates the restrictions on Transfer set forth in Section 14 - Assignment and Subletting.
(e) Tenant ceases doing business as a going concern; makes an assignment for the benefit of creditors; is adjudicated an insolvent, files a petition (or files an answer admitting the material terms or conditions of this Lease following the giving of applicable notice and opportunity to cure or (iv) the appointment allegations of a trustee petition) seeking relief under any state or a receiver to take possession of federal bankruptcy or other statute, law or regulation affecting creditors' rights; all or substantially all of Tenant’s 's assets occurs, or if the attachment, execution or other are subject to judicial seizure of all or substantially all of Tenant’s assets located at the Premises, or of Tenant’s interest in this Lease, occurs, or (v) Tenant or any of its successors or assigns or surety of Tenant’s obligations should file any voluntary petition in bankruptcy, reorganization or arrangement, or an assignment for the benefit of creditors or for similar relief under any present or future statute, law or regulation relating to relief of debtors, or (vi) Tenant or any of its successors or assigns should be adjudicated bankrupt or have an involuntary petition in bankruptcy, reorganization or arrangement filed against it which is attachment and are not dismissed released within ninety (90) days, or Tenant consents to or acquiesces in the appointment of a trustee, receiver or liquidator for Tenant or for all or any substantial part of Tenant's assets.
(viif) Tenant shall permitfails, allow within ninety (90) days after the commencement of any proceedings against Tenant seeking relief under any state or suffer federal bankruptcy or other statute, law or regulation affecting creditors' rights, to exist have such proceedings dismissed, or Tenant fails, within ninety (90) days after an appointment, without Tenant's consent or acquiescence, of any lientrustee, judgmentreceiver or liquidator for Tenant or for all or any substantial part of Tenant's assets, writ, assessment, charge, attachment to have such appointment vacated.
(g) Tenant fails to perform or execution upon Landlord’s or Tenant’s interest in comply with any provision of this Lease or to the Premises, and/or the fixturesother than those described in (a) through (f) above, and improvements and furnishings located thereon and fails does not fully cure such failure within thirty (30) days either after notice to discharge the same or provide a bond transferring sameTenant or, thenif such failure cannot be cured within such thirty (30)-day period, Tenant shall be in default hereunderfails within such thirty (30)-day period to commence, or (viii) the leasehold estate granted and thereafter diligently proceed with, all actions necessary to Tenant by this Lease is taken on execution or other process of law or equity in any action against Tenantcure such failure as soon as reasonably possible.
Appears in 1 contract
Events of Default by Tenant. If The occurrence of any of the following shall constitute a material default and breach of this Lease by Tenant:
(iA) The failure by Tenant fails to pay any Base Rent on the date due (a “Monetary Default”); or (ii) Tenant fails to cure make any other default, such as, but not limited to, payment required to be made by Tenant hereunder as and when due.
(B) The abandonment of the performance Premises by Tenant or the vacation of the Premises by Tenant for fourteen (14) consecutive days (without the payment of Rent).
(C) The making by Tenant of any other covenant assignment of this Lease or agreement any sublease of all or part of the Premises, except as expressly permitted under Article XIV of this Lease, .
(D) The failure by Tenant to observe or perform any rules and regulations attached to this Lease, or promulgated by Landlord under this Lease (a “Nonmonetary Default”); or (iii) Tenant fails to fulfill any of the material terms or conditions other provision of this Lease following to be observed or performed by Tenant, other than those described in Sections 15.01(A), 15.01(B) or 15.01 (C) above, if such failure continues for ten (10) days after written notice thereof by Landlord to Tenant; provided, however, that if the giving nature of applicable the default is such that it cannot be cured within the ten (10) day period, no default shall exist if Tenant commences the curing of the default within the ten (10) day period and thereafter diligently prosecutes the same to completion. The ten (10) day notice described herein shall be in lieu of, and opportunity not in addition to, any notice required under Section 1161 of the California Civil Code of Procedure or any other law now or hereafter in effect requiring that notice of default be given prior to cure the commencement of an unlawful detainer or other legal proceeding.
(ivE) The making by Tenant or its Guarantor of any general assignment for the benefit of creditors, the filing by or against Tenant or its Guarantor of a petition under any federal or state bankruptcy or insolvency laws (unless, in the case of a petition filed against Tenant or its Guarantor the same is dismissed within thirty (30) days after filing); the appointment of a trustee or a receiver to take possession of all or substantially all of Tenant’s 's assets occursat the Premises or Tenant's interest in this Lease or the Premises, when possession is not restored to Tenant within thirty (30) days; or if the attachment, execution or other judicial seizure of all or substantially all of Tenant’s 's assets located at the Premises, or of Tenant’s interest in this Lease, occurs, or (v) Tenant or any of its successors or assigns or surety of Tenant’s obligations should file any voluntary petition in bankruptcy, reorganization or arrangement, or an assignment for the benefit of creditors or for similar relief under any present or future statute, law or regulation relating to relief of debtors, or (vi) Tenant or any of its successors or assigns should be adjudicated bankrupt or have an involuntary petition in bankruptcy, reorganization or arrangement filed against it which is not dismissed within ninety (90) days, or (vii) Tenant shall permit, allow or suffer to exist any lien, judgment, writ, assessment, charge, attachment or execution upon Landlord’s Premises or Tenant’s 's interest in this Lease or to the Premises, and/or the fixtures, and improvements and furnishings located thereon and fails if such seizure is not discharged within thirty (30) days either to discharge the same or provide a bond transferring same, then, Tenant shall be in default hereunderdays.
(F) Any material misrepresentation herein, or (viii) the leasehold estate granted to material misrepresentation or omission in any financial statements or other materials provided by Tenant by or any Guarantor in connection with negotiating or entering into this Lease is taken on execution or other process of law or equity in connection with any action against TenantTransfer under Section 14.01.
Appears in 1 contract
Sources: Retail Lease (Nara Bancorp Inc)
Events of Default by Tenant. If Each of the following shall constitute an Event of Default: (i) Tenant fails to pay any Rent on within five (5) business days after notice from Landlord; provided that no such notice shall be required if at least two such notices shall have been given during the date due (a “Monetary Default”)previous 12 months; or (ii) Tenant fails to cure observe or perform any other defaultterm, condition or covenant herein binding upon or obligating Tenant within 30 days after notice from Landlord; provided, however, that if such asfailure cannot reasonably be cured within such 30-day period, but not limited tothen such period to cure the default shall be extended for up to an additional 60 days provided Tenant has commenced to cure the default within the 30-day period and diligently pursues such cure to completion (notwithstanding the foregoing, if Landlord provides Tenant with notice of Tenant’s failure to observe or perform any term, condition or covenant under this Subsection (ii) on two or more occasions during any 12 month period, then Tenant’s subsequent violation of the performance same term, condition or covenant shall, at Landlord’s option, be deemed an Event of any other covenant or agreement Default immediately upon the occurrence of this Leasesuch failure, regardless of whether Landlord provides Tenant notice, or any rules and regulations attached to this Lease, or promulgated by Landlord under this Lease (a “Nonmonetary Default”Tenant has commenced the cure of the same); or (iii) Tenant fails to fulfill any pay Rent when due and abandons or vacates the Premises or fails to take occupancy of the material terms or conditions of this Lease following Premises within 90 days after the giving of applicable notice and opportunity to cure or Commencement Date; (iv) Tenant fails to execute and return a SNDA (as defined in Article XXI) or estoppel within the appointment time periods provided for in Article XXI or Section 24.4 and such failure continues after the expiration of five (5) business days after Landlord has delivered to Tenant notice stating in bold letters in the re: line that “THIS IS A NOTICE OF DEFAULT RELATING TO TENANT’S FAILURE TO RETURN A DOCUMENT PURSUANT TO TENANT’S LEASE AT ▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇”; (v) Tenant or any Guarantor makes or consents to a trustee general assignment for the benefit of creditors or a common law composition of creditors, or a receiver to take possession of the Premises for all or substantially all of Tenant’s assets occurs, or if the attachment, execution or other judicial seizure of all or substantially all of TenantGuarantor’s assets located at the Premises, or of Tenant’s interest in this Lease, occurs, or (v) Tenant or any of its successors or assigns or surety of Tenant’s obligations should file any voluntary petition in bankruptcy, reorganization or arrangement, or an assignment for the benefit of creditors or for similar relief under any present or future statute, law or regulation relating to relief of debtors, or is appointed; (vi) Tenant or Guarantor hereafter files a voluntary petition in any of its successors bankruptcy or assigns should be adjudicated bankrupt insolvency proceeding, or have an involuntary petition in bankruptcy, reorganization any bankruptcy or arrangement insolvency proceeding is filed against it which Tenant or Guarantor and is not dismissed discharged by Tenant or Guarantor within ninety (90) 60 days, ; or (vii) Tenant shall permit, allow or suffer fails to exist any lien, judgment, writ, assessment, charge, attachment or execution upon immediately after Landlord’s delivery of notice to Tenant remedy or Tenant’s interest discontinue any hazardous conditions which Tenant has created or permitted in violation of law or of this Lease or to the Premises, and/or the fixtures, and improvements and furnishings located thereon and fails within thirty (30) days either to discharge the same or provide a bond transferring same, then, Tenant Lease. Any such notices required under this Section 20.1 shall be in default hereundersatisfaction of, and not in addition to, any notice required under Sections 1161(2) or (viii) 3), as the leasehold estate granted to Tenant by case may be, of the California Code of Civil Procedure. Any notice periods provided for under this Lease is taken on execution Section 20.1 shall run concurrently with any statutory notice periods and any notice given hereunder may be given simultaneously with or other process of law or equity in incorporated into any action against Tenantsuch statutory notice.
Appears in 1 contract
Sources: Office Lease (McAfee Corp.)
Events of Default by Tenant. If (i) In the event of any failure of Tenant fails to pay any Rent on the date rental or other sums of money when due (a “Monetary Default”)hereunder; or (ii) Tenant fails any failure to cure observe or perform any other defaultof the terms, such as, but not limited to, the performance of any other covenant conditions or agreement covenants of this Lease, including but not limited to the Building rules, to be observed or any rules and regulations attached performed by Tenant for more than ten (10) days after written notice thereof shall have been given to this Lease, or promulgated by Landlord under this Lease (a “Nonmonetary Default”)Tenant; or (iii) Tenant fails to fulfill any of the material terms or conditions of this Lease following the giving of applicable notice and opportunity to cure or (iv) the appointment of a trustee or a receiver to take possession of all or substantially all of Tenant’s assets occurs, or if the attachment, execution or other judicial seizure of all or substantially all of Tenant’s assets located at the Premises, or of Tenant’s leasehold interest in this Lease, occurs, or (v) Tenant or any of its successors or assigns or surety of Tenant’s obligations should file any voluntary petition in bankruptcy, reorganization or arrangement, or an assignment for the benefit of creditors or for similar relief under any present or future statute, law or regulation relating to relief of debtors, or (vi) Tenant or any of its successors or assigns should be adjudicated bankrupt or have an involuntary petition in bankruptcy, reorganization or arrangement filed against it which is not dismissed within ninety (90) days, or (vii) Tenant shall permit, allow or suffer to exist any lien, judgment, writ, assessment, charge, attachment or execution upon Landlord’s or Tenant’s interest in this Lease or to the Premises, and/or the fixtures, and improvements and furnishings located thereon and fails within thirty (30) days either to discharge the same or provide a bond transferring same, then, Tenant shall be in default hereunder, or (viii) the leasehold estate granted to Tenant by this Lease is taken on execution or other process of law against Tenant; or equity if Tenant or an agent of Tenant shall falsify any report required to be furnished to Landlord pursuant to the terms of this Lease; or if Tenant shall fail to accept the Leased Premises, or to promptly move into, take possession of, and operate its business on the Leased Premises when the Leased Premises are substantially complete; or if Tenant ceases to do business in or abandons any substantial portion of the Leased Premises; or if Tenant should at any time during the continuance of the Lease remove or attempt to remove the goods, furniture, effects, improvements and personal property brought thereon out of or from the Leased Premises (except in the ordinary course of business), without having paid in full all rent and other applicable charges which shall become due during the term of this Lease; or, if Tenant or any Guarantor of this Lease shall become bankrupt or insolvent, or file a petition in bankruptcy or insolvency or for reorganization or for the appointment of a receiver or trustee of all or a portion of Tenant’s or any Guarantor’s property; or if a petition or answer proposing the adjudication of Tenant or any Guarantor as a bankrupt or its reorganization under any present or future federal or state bankruptcy or similar law shall be filed in any action against Tenantcourt and such petition or answer shall not be discharged or denied within sixty (60) days after the filing thereof; or if Tenant or any Guarantor makes an assignment for the benefit of creditors, or petitions for or enters into an arrangement, or suffers this Lease to be taken under any writ of execution, then, in any of such events, Tenant shall be deemed in breach and default of this Lease and Landlord, in its discretion and at its election, and in addition to all other rights and remedies it may have in law or in equity, shall also be entitled to those rights and remedies enumerated below.
Appears in 1 contract
Events of Default by Tenant. If The occurrence of any of the following shall constitute a material default and breach of this Lease by Tenant (i) Tenant fails to pay any Rent on the date due (a “Monetary an Event of Default”).
(A) The failure by Tenant to pay Base Rent or make any other payment required to be made by Tenant hereunder on its due date, provided that Tenant shall have a grace period of three (3) days (“Grace Period”) to make such payments of Base Rent; or provided, however, that Landlord shall provide Tenant with written notice and five (ii5) Tenant fails days in which to cure such non-payment once each calendar year during the Term prior to the occurrence of an Event of Default and further provided that if Tenant pays Base Rent later than the first day of a calendar month more than four (4) times in any one (1) calendar year, the Grace Period shall terminate and all payments of Base shall be made on its due date.
(B) The abandonment of the Premises by Tenant.
(C) The failure by Tenant to observe or perform any other default, such as, but not limited to, the performance of any other covenant or agreement of this Lease, or any rules and regulations attached to this Lease, or promulgated by Landlord under this Lease (a “Nonmonetary Default”); or (iii) Tenant fails to fulfill any of the material terms or conditions provision of this Lease following to be observed or performed by Tenant, other than those described in Sections 15.1(A) and 15.1(B) above, if such failure continues for thirty (30) days after written notice thereof by Landlord to Tenant; provided, however, that if the giving nature of applicable notice the default is such that it cannot be cured within the thirty (30) day period, no default shall exist if Tenant commences the curing of the default within the thirty (30) day period and opportunity thereafter diligently prosecutes the same to cure completion and completes the same within ninety (90) days.
(D) The making by Tenant of any general assignment for the benefit of creditors, the filing by or against Tenant of a petition under any federal or state bankruptcy or insolvency laws (ivunless, in the case of a petition filed against Tenant the same is dismissed within sixty (60) days after filing); the appointment of a trustee or a receiver to take possession of all or substantially all of Tenant’s assets occursat the Premises or Tenant’s interest in this Lease or the Premises, when possession is not restored to Tenant within sixty (60) days; or if the attachment, execution or other judicial seizure of all or substantially all of Tenant’s assets located at the Premises, or of Tenant’s interest in this Lease, occurs, or (v) Tenant or any of its successors or assigns or surety of Tenant’s obligations should file any voluntary petition in bankruptcy, reorganization or arrangement, or an assignment for the benefit of creditors or for similar relief under any present or future statute, law or regulation relating to relief of debtors, or (vi) Tenant or any of its successors or assigns should be adjudicated bankrupt or have an involuntary petition in bankruptcy, reorganization or arrangement filed against it which is not dismissed within ninety (90) days, or (vii) Tenant shall permit, allow or suffer to exist any lien, judgment, writ, assessment, charge, attachment or execution upon Landlord’s Premises or Tenant’s interest in this Lease or to the Premises, and/or the fixtures, and improvements and furnishings located thereon and fails if such seizure is not discharged within thirty sixty (3060) days either to discharge the same or provide a bond transferring same, then, Tenant shall be in default hereunderdays.
(E) Any material misrepresentation herein, or (viii) the leasehold estate granted to Tenant by this Lease is taken on execution material misrepresentation or omission in any financial statements or other process materials provided by Tenant or any Guarantor to Landlord. Time is of law or equity in any action against the essence with respect to Tenant’s compliance with this Section 15.1.
Appears in 1 contract
Sources: Office Lease (Omniture, Inc.)
Events of Default by Tenant. If The occurrence of any one or more of the following shall constitute an “Event of Default” hereunder:
(i) Tenant’s failure to pay any Base Rent, Percentage Rent or Additional Rent when due and such failure shall continue for ten (10) days after written notice from Landlord (provided that, in the case of Base Rent and Percentage Rent, Landlord shall not be obligated to provide notice on more than two (2) occasions during any twelve (12) consecutive month period prior to such payment default becoming an Event of Default);
(ii) Tenant’s failure to comply with or perform any other term or condition set forth in this Lease to be satisfied by Tenant and such failure shall continue for ninety (90) days after notice from Landlord to Tenant, or in the case of any default which cannot reasonably be cured within such ninety (90) day period, if Tenant fails to pay any Rent on promptly commence to cure same or thereafter fails to prosecute the date due curing thereof with diligence to completion;
(iii) If Tenant or the issuer of a guaranty of Tenant’s obligations hereunder (a “Monetary DefaultGuarantor”); ) shall file a voluntary petition in bankruptcy or (ii) Tenant fails to cure any other default, such as, but not limited to, the performance of any other covenant shall be adjudicated a bankrupt or agreement of this Leaseinsolvent, or in any rules and regulations attached to this Leaseaction or proceeding shall file any petition or answer seeking reorganization, arrangement, composition, readjustment, liquidations, dissolution or similar relief under any present or future federal or state bankruptcy, reorganization or debt reduction law, or promulgated by Landlord under this Lease (a “Nonmonetary Default”); shall seek or (iii) Tenant fails consent to fulfill any of the material terms or conditions of this Lease following the giving of applicable notice and opportunity to cure or (iv) acquiesce in the appointment of a trustee any trustee, receiver or a receiver to take possession liquidator of Tenant or of said guarantor or of all or substantially all of Tenant’s assets occursor said guarantor’s property or of the Premises; and/or
(iv) If within one hundred twenty (120) days after the commencement of any proceeding against Tenant or any Guarantor seeking reorganization, arrangement, composition, readjustment, liquidation, dissolution or if similar relief under any present or future federal or state bankruptcy, reorganization or debt reduction law, such proceeding shall not have been stayed or dismissed; or if, within one hundred twenty (120) days after the attachmentappointment, execution without the consent or other judicial seizure acquiescence of Tenant or Guarantor (as applicable) or of any trustee, receiver or liquidator of Tenant or Guarantor or of all or substantially all of Tenant’s assets located at or Guarantor’s property or of the Premises, such appointment shall not have been stayed or of Tenant’s interest in this Lease, occurs, vacated; or if within one hundred twenty (v) Tenant or any of its successors or assigns or surety of Tenant’s obligations should file any voluntary petition in bankruptcy, reorganization or arrangement, or an assignment for the benefit of creditors or for similar relief under any present or future statute, law or regulation relating to relief of debtors, or (vi) Tenant or any of its successors or assigns should be adjudicated bankrupt or have an involuntary petition in bankruptcy, reorganization or arrangement filed against it which is not dismissed within ninety (90) days, or (vii) Tenant shall permit, allow or suffer to exist any lien, judgment, writ, assessment, charge, attachment or execution upon Landlord’s or Tenant’s interest in this Lease or to the Premises, and/or the fixtures, and improvements and furnishings located thereon and fails within thirty (30120) days either to discharge after the same or provide a bond transferring sameexpiration of any such stay, then, Tenant such appointment shall be in default hereunder, or (viii) the leasehold estate granted to Tenant by this Lease is taken on execution or other process of law or equity in any action against Tenantnot have been vacated.
Appears in 1 contract
Sources: Ground Lease (Trump Entertainment Resorts Funding Inc)
Events of Default by Tenant. If The occurrence of any one or more of the following events shall constitute a default by Tenant under this Lease: 13
(ia) Tenant fails to pay any Rent on the date Rental when due and such failure shall continue for ten (a “Monetary Default”)10) days after written notice to Tenant; or (ii) provided, however, Tenant fails shall be entitled to cure any other default, such as, but not limited to, the performance of any other covenant or agreement of this Lease, or any rules and regulations attached to this Lease, or promulgated by Landlord under this Lease (a “Nonmonetary Default”); or (iii) Tenant fails to fulfill any of the material terms or conditions of this Lease following the giving of applicable notice and opportunity to cure on only two (2) occasions during any calendar year;
(b) Tenant fails to perform or observe any other covenant or obligation hereunder or under any of the Rules and Regulations and such failure continues for more than thirty (iv30) days after notice or, if such failure cannot be cured through the appointment of a trustee or a receiver to take possession exercise of all reasonable diligence, within such thirty (30)-day period, if Tenant does not commence to cure same within said thirty (30)-day period and thereafter diligently pursue the correction of same to completion;
(c) [Intentionally Omitted];
(d) any petition is filed by or substantially all against Tenant under any section or chapter of Tenant’s assets occursthe present or any future United States Bankruptcy Code or under any similar law or statute of the United States or any state thereof (which, in the case of an involuntary proceeding, is not permanently discharged, dismissed, or if vacated, as the attachmentcase may be, execution or other judicial seizure of all or substantially all of Tenant’s assets located at the Premises, or of Tenant’s interest in this Lease, occurs, or (v) Tenant or any of its successors or assigns or surety of Tenant’s obligations should file any voluntary petition in bankruptcy, reorganization or arrangement, or an assignment for the benefit of creditors or for similar relief under any present or future statute, law or regulation relating to relief of debtors, or (vi) Tenant or any of its successors or assigns should be adjudicated bankrupt or have an involuntary petition in bankruptcy, reorganization or arrangement filed against it which is not dismissed within ninety (90) days, or (vii) Tenant shall permit, allow or suffer to exist any lien, judgment, writ, assessment, charge, attachment or execution upon Landlord’s or Tenant’s interest in this Lease or to the Premises, and/or the fixtures, and improvements and furnishings located thereon and fails within thirty (30) days either to discharge the same of its commencement), or provide a bond transferring same, then, Tenant any order for relief shall be entered against Tenant in default hereunderproceedings filed under any section or chapter of the present or any future United States Bankruptcy Code or under any similar law of statute of the United State or any state thereof;
(e) Tenant becomes insolvent or makes a transfer in fraud of creditors;
(f) Tenant makes a general assignment for the benefit of creditors;
(g) a receiver, custodian, or trustee is appointed for Tenant or for any of the assets of Tenant (viiior any guarantor of Tenant's obligations under this Lease) which appointment is not vacated within sixty (60) days of the date of such appointment;
(h) breach by Tenant of the prohibition against assignment and subletting under Article 8 hereof; or
(i) the leasehold estate granted to Tenant by occurrence of a default as so specified under any other provision of this Lease is taken on execution or other process of law or equity in any action against TenantLease.
Appears in 1 contract
Events of Default by Tenant. If The occurrence of any of the following shall constitute a material default and breach of this Lease by Tenant:
(iA) The failure by Tenant fails to pay any Base Rent on the date due (a “Monetary Default”); or (ii) Tenant fails to cure make any other defaultpayment required to be made by Tenant hereunder as and when due, such as, but not limited to, which failure continues for a period of three (3) business days following written notice.
(B) The abandonment of the performance Premises by Tenant or the vacation of the Premises by Tenant for fourteen (14) consecutive days (without the payment of Rent) without providing a reasonable level of security.
(C) The making by Tenant of any other covenant assignment of this Lease or agreement any sublease of all or part of the Premises, except as expressly permitted under Article XIV of this Lease, .
(D) The failure by Tenant to observe or perform any rules and regulations attached to this Lease, or promulgated by Landlord under this Lease (a “Nonmonetary Default”); or (iii) Tenant fails to fulfill any of the material terms or conditions other provision of this Lease following to be observed or performed by Tenant, other than those described in Sections 15.01(A), 15.01(B) or 15.01 (C) above, if such failure continues for thirty (30) days after written notice thereof by Landlord to Tenant; provided, however, that if the giving nature of applicable notice the default is such that it cannot be cured within the thirty (30) day period, no default shall exist if Tenant commences the curing of the default within the thirty (30) day period and opportunity thereafter diligently prosecutes the same to cure completion.
(E) The making by Tenant of any general assignment for the benefit of creditors, the filing by or against Tenant of a petition under any federal or state bankruptcy or insolvency laws (ivunless, in the case of a petition filed against Tenant the same is dismissed within thirty (30) days after filing); the appointment of a trustee or a receiver to take possession of all or substantially all of Tenant’s assets occursat the Premises or Tenant’s interest in this Lease or the Premises, when possession is not restored to Tenant within thirty (30) days; or if the attachment, execution or other judicial seizure of all or substantially all of Tenant’s assets located at the Premises, or of Tenant’s interest in this Lease, occurs, or (v) Tenant or any of its successors or assigns or surety of Tenant’s obligations should file any voluntary petition in bankruptcy, reorganization or arrangement, or an assignment for the benefit of creditors or for similar relief under any present or future statute, law or regulation relating to relief of debtors, or (vi) Tenant or any of its successors or assigns should be adjudicated bankrupt or have an involuntary petition in bankruptcy, reorganization or arrangement filed against it which is not dismissed within ninety (90) days, or (vii) Tenant shall permit, allow or suffer to exist any lien, judgment, writ, assessment, charge, attachment or execution upon Landlord’s Premises or Tenant’s interest in this Lease or to the Premises, and/or the fixtures, and improvements and furnishings located thereon and fails if such seizure is not discharged within thirty sixty (3060) days either to discharge the same or provide a bond transferring same, then, Tenant shall be in default hereunderdays.
(F) Any material misrepresentation herein, or (viii) the leasehold estate granted to material misrepresentation or omission in any financial statements or other materials provided by Tenant by in connection with negotiating or entering into this Lease is taken on execution or other process of law or equity in connection with any action against TenantTransfer under Section 14.01.
Appears in 1 contract
Sources: Office Lease (Wilshire Bancorp Inc)
Events of Default by Tenant. If The occurrence of any of the following shall constitute a material default and breach of this Lease by Tenant:
(iA) The failure by Tenant fails to pay any Base Rent on the date due (a “Monetary Default”); or (ii) Tenant fails to cure make any other default, such as, but not limited to, payment required to be made by Tenant hereunder as and when due.
(B) The abandonment of the performance Premises by Tenant or the vacation of the Premises by Tenant for fourteen (14) consecutive days (with or without the payment of Rent).
(C) The making by Tenant of any other covenant assignment of this Lease or agreement any sublease of all or part of the Premises, except as expressly permitted under Article XIV of this Lease, .
(D) The failure by Tenant to observe or perform any rules and regulations attached to this Lease, or promulgated by Landlord under this Lease (a “Nonmonetary Default”); or (iii) Tenant fails to fulfill any of the material terms or conditions other provision of this Lease following to be observed or performed by Tenant, other than those described in Sections 15.01(A), 15.01(B) or 15.01 (C) above, if such failure continues for thirty (30) days after written notice thereof by Landlord to Tenant; provided, however, that if the giving nature of applicable the default is such that it cannot be cured within the thirty (30) day period, no default shall be deemed to exist if Tenant commences the curing of the default promptly within such thirty (30) day period and thereafter diligently prosecutes the same to completion and achieves the same within sixty (60) days after the occurrence of such default. The thirty (30) day notice described herein shall be in lieu of, and opportunity not in addition to, any notice required under law now or hereafter in effect requiring that notice of default be given prior to cure the commencement of an unlawful detainer or other legal proceeding.
(ivE) The making by Tenant or its Guarantor of any general assignment for the benefit of creditors, the filing by or against Tenant or its Guarantor of a petition under any federal or state bankruptcy or insolvency laws (unless, in the case of a petition filed against Tenant or its Guarantor the same is dismissed within thirty (30) days after filing); the appointment of a trustee or a receiver to take possession of all or substantially all of Tenant’s 's assets occursat the Premises or Tenant's interest in this Lease or the Premises, or if when possession is not restored to Tenant within thirty (30) days; the attachment, execution or other judicial seizure of all or substantially all of Tenant’s 's assets located at the Premises, or of Tenant’s interest in this Lease, occurs, or (v) Tenant or any of its successors or assigns or surety of Tenant’s obligations should file any voluntary petition in bankruptcy, reorganization or arrangement, or an assignment for the benefit of creditors or for similar relief under any present or future statute, law or regulation relating to relief of debtors, or (vi) Tenant or any of its successors or assigns should be adjudicated bankrupt or have an involuntary petition in bankruptcy, reorganization or arrangement filed against it which is not dismissed within ninety (90) days, or (vii) Tenant shall permit, allow or suffer to exist any lien, judgment, writ, assessment, charge, attachment or execution upon Landlord’s Premises or Tenant’s 's interest in this Lease or to the Premises, and/or the fixtures, and improvements and furnishings located thereon and fails if such seizure is not discharged within thirty (30) days either to discharge days; or the same death or provide a bond transferring samethe dissolution of Tenant or any one or more of the Guarantors, then, Tenant shall be in default hereunderif any.
(F) Any material misrepresentation herein, or (viii) the leasehold estate granted to material misrepresentation or omission in any financial statements or other materials provided by Tenant by or any Guarantor in connection with negotiating or entering into this Lease is taken on execution or other process of law or equity in connection with any action against TenantTransfer under Section 14.01.
Appears in 1 contract
Events of Default by Tenant. If The occurrence of any of the following shall constitute a material default and breach of this Lease by Tenant:
(iA) The failure by Tenant fails to pay any Base Rent on the date due (a “Monetary Default”); or (ii) Tenant fails to cure make any other default, such as, but not limited to, payment required to be made by Tenant hereunder as and when due.
(B) The abandonment of the performance Premises by Tenant or the vacation of the Premises by Tenant for thirty (30) consecutive days (with or without the payment of Rent).
(C) The making by Tenant of any other covenant assignment of this Lease or agreement any sublease or all or part of the Premises, except as expressly permitted under Article XIV of this Lease, .
(D) The failure by Tenant to observe or perform any rules and regulations attached to this Lease, or promulgated by Landlord under this Lease (a “Nonmonetary Default”); or (iii) Tenant fails to fulfill any of the material terms or conditions other provision of this Lease following to be observed or performed by Tenant, other than those described in Sections 15.01(A), 15.01(B) or 15.01(C) above, if such failure continues for thirty (30) days after written notice thereof by Landlord to Tenant; provided, however, that if the giving nature of applicable the default is such that it cannot be cured within the thirty (30) day period, no default shall be deemed to exist if Tenant commences the curing of the default promptly within such thirty (30) day period and thereafter diligently prosecutes the same to completion and achieves the same within ninety (90) days after the occurrence of such default. The thirty (30) day notice described herein shall be in lieu of, and opportunity not in addition to, any notice required under law now or hereafter in effect requiring that notice of default be given prior to cure the commencement of an unlawful detainer or other legal proceeding.
(ivE) The making by Tenant of any general assignment for the benefit of creditors, the filing by or against Tenant or any one or more of the Guarantors, if any, of a petition under any federal or state bankruptcy or insolvency laws (unless, in the case of a petition filed against Tenant or any one or more of the Guarantors, if any, the same is dismissed within thirty (30) days after filing); the appointment of a trustee or a receiver to take possession of all or substantially all of Tenant’s 's assets occursat the Premises or Tenant's interest in this Lease or the Premises, or if when possession is not restored to Tenant within thirty (30) days; the attachment, execution or other judicial seizure of all or substantially all of Tenant’s 's assets located at the Premises, or of Tenant’s interest in this Lease, occurs, or (v) Tenant or any of its successors or assigns or surety of Tenant’s obligations should file any voluntary petition in bankruptcy, reorganization or arrangement, or an assignment for the benefit of creditors or for similar relief under any present or future statute, law or regulation relating to relief of debtors, or (vi) Tenant or any of its successors or assigns should be adjudicated bankrupt or have an involuntary petition in bankruptcy, reorganization or arrangement filed against it which is not dismissed within ninety (90) days, or (vii) Tenant shall permit, allow or suffer to exist any lien, judgment, writ, assessment, charge, attachment or execution upon Landlord’s Premises or Tenant’s 's interest in this Lease or to the Premises, and/or the fixtures, and improvements and furnishings located thereon and fails if such seizure is not discharged within thirty (30) days either to discharge days; or the same death or provide a bond transferring samethe dissolution of Tenant or any one or more of the Guarantors, then, Tenant shall be in default hereunderif any.
(F) Any material misrepresentation herein, or (viii) the leasehold estate granted to material misrepresentation or omission in any financial statements or other materials provided by Tenant by or any Guarantor in connection with negotiating or entering into this Lease is taken on execution or other process of law or equity in connection with any action against TenantTransfer under Section 14.01.
Appears in 1 contract
Events of Default by Tenant. If It shall be an Event of Default under this Lease, if (i) Tenant fails to pay any Fixed Rent on the date due or additional rent for more than ten (a “Monetary Default”)10) days, after notice thereof specifying such failure and that such failure may be an Event of Default hereunder; or (ii) Tenant fails to perform its other non-monetary obligations hereunder for more than thirty (30) days after notice thereof from Landlord, together with such additional time, if any, as is reasonably required to cure any other default, the default if the default is of such as, but a nature that it cannot limited to, the performance of any other covenant or agreement of this Lease, or any rules and regulations attached to this Lease, or promulgated by Landlord under this Lease reasonably be cured in thirty (a “Nonmonetary Default”)30) days; or (iii) if Tenant fails to fulfill makes any of the material terms or conditions of this Lease following the giving of applicable notice and opportunity to cure or (iv) the appointment of a trustee or a receiver to take possession of all or substantially all of Tenant’s assets occurs, or if the attachment, execution or other judicial seizure of all or substantially all of Tenant’s assets located at the Premises, or of Tenant’s interest in this Lease, occurs, or (v) Tenant or any of its successors or assigns or surety of Tenant’s obligations should file any voluntary petition in bankruptcy, reorganization or arrangement, or an assignment for the benefit of creditors creditors, or for similar relief files a petition under any present bankruptcy or future statute, law or regulation relating to relief of debtors, insolvency law; or (viiv) Tenant or any of its successors or assigns should be adjudicated bankrupt or have an involuntary if such a petition in bankruptcy, reorganization or arrangement is filed against it which Tenant and is not dismissed within thirty (30) days; or (v) if a receiver becomes entitled to Tenant's leasehold hereunder and it is not returned to Tenant within ninety (90) days, ; or (viivi) Tenant shall permit, allow or suffer to exist any lien, judgment, writ, assessment, charge, attachment or execution upon Landlord’s or Tenant’s interest in this Lease or to the Premises, and/or the fixtures, and improvements and furnishings located thereon and fails within thirty (30) days either to discharge the same or provide a bond transferring same, then, Tenant shall be in default hereunder, or (viii) the such leasehold estate granted to Tenant by this Lease is taken on execution or other process of law or equity in any action against Tenant; then, and in any such cases, Landlord and the agents and servants of Landlord may, in addition to and not in derogation of any remedies for any preceding breach of covenant, immediately or at any time thereafter while such default continues and without further notice enter into and upon the Premises or any part thereof in the name of the whole or mail a notice of termination addressed to Tenant at the Premises and repossess the same as of Landlord's former estate and expel Tenant and those claiming through or under Tenant and remove its and their effects without being deemed guilty of any manner of trespass and without prejudice to any remedies which might otherwise be used for arrears of rent or prior breach of covenant, and upon such entry or mailing as aforesaid, this Lease shall terminate, but Tenant shall remain liable as hereinafter provided. After the occurrence of an Event of Default as aforesaid, Tenant hereby waives all statutory rights of redemption, if any to the extent such rights may be lawfully waived, and Landlord, without notice to Tenant, may store Tenant's effects and those of any person claiming through or under Tenant at the expense and risk of Tenant and, if Landlord so elects, may sell such effects at public auction or private sale and apply the net proceeds to the payment of all sums due to Landlord from Tenant, if any, and pay over the balance, if any, to Tenant.
Appears in 1 contract
Sources: Lease Agreement (Open Market Inc)
Events of Default by Tenant. If The following events are referred to, collectively, as “Events of Default” or, individually, as an “Event of Default”:
(ia) The vacation or abandonment of the Premises by Tenant fails (failure of Tenant to occupy the Premises for a period of ten (10) consecutive days while in monetary default under this Lease shall conclusively be deemed a vacation and abandonment of the Premises);
(b) Failure to pay any installment of Rent on or any other monies due and payable hereunder, said failure continuing for a period of three (3) business days after the date due same is due, provided that with respect to the first late payment in any twelve (a “Monetary Default”)12) month period, it shall not be an Event of Default unless such payment is not received within three (3) calendar days after written notice thereof by Landlord to Tenant; or (ii) provided further that in the event Tenant fails thereafter in the same twelve (12) month period to pay any Rent, then any late charge or Default Interest which were waived because of Tenant’s timely cure any other default, of its first Event of Default in such as, but not limited totwelve (12) month period shall be re-instated;
(c) A general assignment by Tenant or Guarantor for the benefit of creditors;
(d) The filing of a voluntary petition in bankruptcy by Tenant or Guarantor, the performance filing by Tenant or Guarantor of any other covenant a voluntary petition for an arrangement, the filing by or agreement against Tenant or Guarantor of this Leasea petition, voluntary or involuntary, for reorganization, or any rules and regulations attached to this Leasethe filing of an involuntary petition by the creditors of Tenant or Guarantor, said involuntary petition remaining undischarged for a period of sixty (60) days;
(e) Receivership, attachment, or promulgated by Landlord under this Lease (a “Nonmonetary Default”); or (iii) Tenant fails to fulfill any other judicial seizure of the material terms or conditions of this Lease following the giving of applicable notice and opportunity to cure or (iv) the appointment of a trustee or a receiver to take possession of all or substantially all of Tenant’s assets occurson the Premises, such attachment or other seizure remaining undismissed or undischarged for a period of sixty (60) days after the levy thereof,
(f) Death or disability of Tenant or Guarantor, if Tenant or such Guarantor is a natural person, or the failure by Tenant or Guarantor to maintain its legal existence, if the attachmentTenant or Guarantor is a corporation, execution partnership, limited liability company, trust or other judicial seizure legal entity;
(g) Failure of all Tenant to execute and deliver to Landlord any estoppel certificate, subordination agreement, or substantially all lease amendment within the time periods and in the manner required by the Lease, and/or failure by Tenant to deliver to Landlord any financial statement within the time period and in the manner required the Lease;
(h) An assignment or sublease, or attempted assignment or sublease, of this Lease or the Premises by Tenant contrary to the provision of Article 10 of this Lease, unless such assignment or sublease is expressly conditioned upon Tenant having received Landlord’s consent thereto;
(i) Failure in the performance of any of Tenant’s assets located at the Premisescovenants, agreements or obligations hereunder (except those failures specified as Events of Tenant’s interest Default in this Leasesubparagraphs (b), occurs, (d) or (ve) Tenant herein or any other subparagraphs of its successors or assigns or surety of Tenant’s obligations should file any voluntary petition this Article 25.01, which shall be governed by the notice and cure periods set forth in bankruptcysuch other subparagraphs), reorganization or arrangement, or an assignment which failure continues for the benefit of creditors or for similar relief under any present or future statute, law or regulation relating to relief of debtors, or (vi) Tenant or any of its successors or assigns should be adjudicated bankrupt or have an involuntary petition in bankruptcy, reorganization or arrangement filed against it which is not dismissed within ninety (90) days, or (vii) Tenant shall permit, allow or suffer to exist any lien, judgment, writ, assessment, charge, attachment or execution upon Landlord’s or Tenant’s interest in this Lease or to the Premises, and/or the fixtures, and improvements and furnishings located thereon and fails within thirty (30) days either after written notice thereof from Landlord to discharge the same or provide a bond transferring sameTenant, thenprovided that, if Tenant has exercised reasonable diligence to cure such failure and such failure cannot be cured within such thirty (30) day period despite reasonable diligence, Tenant shall not be in default hereunderunder this subparagraph so long as Tenant thereafter diligently and continuously prosecutes the cure to completion and actually completes such cure within sixty (60) days after the giving of the aforesaid written notice;
(j) Chronic Default by Tenant in the payment of Rent, or (viii) the leasehold estate granted any other periodic payments required to be paid by Tenant under this Lease. “Chronic Default” means failure by Tenant to pay Rent, or any other payments required to be paid by Tenant under this Lease is taken on execution within three (3) days after written notice thereof for any three (3) months (consecutive or other process nonconsecutive) during any period of law or equity in any action against Tenant.twelve (12) months;
Appears in 1 contract
Sources: Office Lease (Acucela Inc)
Events of Default by Tenant. If at any time subsequent to the date of this Lease any one or more of the following events (each, an "Event of Default") shall occur:
(i) Tenant fails to pay Annual Rent or any Rent on the date other readily ascertainable payment obligation hereunder when due and such failure shall continue for five (a “Monetary Default”)5) business days after notice to Tenant from Landlord; or or
(ii) Tenant fails to cure execute or deliver any estoppel certificate or other document described in Section 10.9 or Section 8.1 hereof within the time period prescribed therein, and such failure continues for five (5) business days after receiving written notice of such default, such as, but not limited to, the performance of any other covenant or agreement of this Lease, or any rules and regulations attached to this Lease, or promulgated by Landlord under this Lease (a “Nonmonetary Default”); or or
(iii) Tenant fails shall default with respect to fulfill any of the material terms or conditions of this Lease following the giving of applicable other obligation hereunder and such default continues for more than 30 days after notice and opportunity such additional time, if any, as is reasonably necessary to cure or the default if the default is of such a nature that it cannot reasonably be cured within 30 days and Tenant diligently and continuously prosecutes such cure to completion; or
(iv) Tenant abandons or vacates the appointment Premises and is not, in Landlord's reasonable judgment, diligently pursuing the assignment or sublease of a trustee or a receiver to take possession of all or substantially all of Tenant’s assets occurs, or if the attachment, execution or other judicial seizure of all or substantially all of Tenant’s assets located at the Premises, or of Tenant’s interest in this Lease, occurs, or ; or
(v) Tenant or any of its successors or assigns or surety of Tenant’s obligations should file any voluntary petition in bankruptcy, reorganization or arrangement, or makes an assignment for the benefit of creditors or for shall be adjudicated insolvent, or shall file a petition or answer seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief under any present or future Federal, state or other statute, law or regulation relating to for the relief of debtorsdebtors (other than the Bankruptcy Code, as hereinafter defined), or shall seek or acquiesce in the appointment of any trustee, receiver or liquidator of Tenant or of all or any substantial part of its properties, or shall admit in writing its inability to pay its debts generally as they become due; or
(vi) Tenant The filing of a voluntary petition by Tenant, or the entry of an order for relief against Tenant, under any chapter of the U.S. Bankruptcy Code, 11 U.S.C. 101 et seq., as it may be amended (or any similar petition under any insolvency law of its successors any jurisdiction) (the "Bankruptcy Code"), or assigns should be adjudicated bankrupt or have an involuntary if such petition in bankruptcy, reorganization or arrangement is filed against it which is Tenant and not dismissed within ninety (90) days, or 75 days of such filing; or
(vii) Tenant shall permit, allow or suffer to exist any lien, judgment, writ, assessment, charge, attachment or execution upon Landlord’s or Tenant’s interest in this Lease or to the Premises, and/or the fixtures, and improvements and furnishings located thereon and fails within thirty (30) days either to discharge the same or provide a bond transferring same, then, Tenant shall be in default hereunder, or (viii) the The leasehold estate granted to Tenant by this Lease hereby created is taken on execution or other process of law or equity in any action against Tenant; Then, and in any such case, Landlord and the agents and servants of Landlord may, in addition to and not in derogation of any remedies for any preceding breach of covenant, immediately or at any time thereafter while such default continues, at Landlord's election, do any one or more of the following: (A) give Tenant written notice stating that the Lease is terminated, effective upon the giving of such notice or upon a date stated in such notice, as Landlord may elect, in which event the Lease shall be irrevocably extinguished and terminated as stated in such notice without any further action; or (B) with or without process of law, in a lawful manner enter and repossess the Premises as of Landlord's former estate, and expel Tenant and those claiming through or under Tenant, and remove its and their effects, without being guilty of trespass, in which event the Lease shall be irrevocably extinguished and terminated at the time of such entry; or (C) pursue any other rights or remedies permitted by law. Any such termination of the Lease shall be without prejudice to any remedies which might otherwise be used for arrears of rent or prior breach of covenant, and in the event of such termination Tenant shall remain liable under this Lease as hereinafter provided. Tenant hereby waives all statutory rights (including, without limitation, rights of redemption, if any) to the extent such rights may be lawfully waived, and Landlord, without notice to Tenant, may store Tenant's effects and those of any person claiming through or under Tenant at the expense and risk of Tenant and, if Landlord so elects, may sell such effects at public auction or private sale and apply the net proceeds to the payment of all sums due to Landlord from Tenant, if any, and pay over the balance, if any, to Tenant.
Appears in 1 contract
Events of Default by Tenant. If The following shall constitute events of default by Tenant: (ia) 1f Tenant fails shall fail to pay make any Rent on the date payment due under this Lease Agreement, and such failure shall continue for ten (10) days after written notice by Landlord; (b) if a “Monetary Default”); or (ii) Tenant fails to cure any other default, such as, but not limited to, default exists in the performance of any of the other covenant covenants or agreement conditions which Tenant is required to observe and to perform, and such default shall continue for twenty (20 days after written notice by Landlord; (c) if the interest of this Lease, or any rules and regulations attached to this Lease, or promulgated by Landlord Tenant under this Lease (a “Nonmonetary Default”); Agreement is levied upon, or (iii) Tenant fails to fulfill any of the material terms is under execution or conditions of this Lease following the giving of applicable notice and opportunity to cure or (iv) the appointment of a trustee or a receiver to take possession of all or substantially all of Tenant’s assets occursother legal process, or if the attachmentany petition shall be filed by or against Tenant to declare Tenant as bankrupt or to delay, execution reduce, or modify Tenant's debts or obligations; (d) if any petition shall be filed or other judicial seizure of all action taken to reorganize or substantially all modify Tenant's capital structure if Tenant be a corporation or other entity; (e) if Tenant is declared insolvent, or if any assignment of Tenant’s assets located at the Premises, or of Tenant’s interest in this Lease, occurs, or (v) Tenant or any of its successors or assigns or surety of Tenant’s obligations should file any voluntary petition in bankruptcy, reorganization or arrangement, or an assignment 's property is made for the benefit of creditors or if a receiver or trustee is appointed for similar relief under Tenant or its property; (f) if Tenant vacates or abandons the Leased Premises, as defined above, during the term of this Lease Agreement or any present extensions thereof; or future statute(___ if Tenant makes any transfer of any interest in the Leased Premises not in accordance with the requirements of this Lease Agreement, then Landlord may treat the occurrence of any one or more of the foregoing events as a breach of this Lease Agreement and thereupon, at Landlord's option, Landlord shall have one or more of the following described remedies in addition to all other rights and remedies provided at law or regulation relating in equity:
a. Landlord may terminate this Lease Agreement and forthwith, in accordance with applicable law, repossess the Leased Premises and remove all persons or property therefrom, and be entitled to relief recover as damages a sum of debtorsmoney equal to the total of (i) the cost of recovering the Leased Premises (ii) the unpaid rent owed thereon from due date plus interest thereon at the rate of 18% per annum or the maximum rate permitted by applicable law, whichever is lower, (iii) the present value of the balance of the rent for the remainder of the term, discounted to the present at 8% per annum, and (iv) any other sum of money and damages owed by Tenant to Landlord;
b. Landlord shall also be entitled to terminate Tenant's right of possession in accordance with applicable law and to repossess the Leased Premises, without demand or notice of any kind to Tenant, by summary proceedings, any other applicable action or proceeding, or otherwise, all without terminating this Lease Agreement, in which event Landlord may, but shall be under no obligation to, relet the same for the account of Tenant for such rent and upon such terms as shall be satisfactory to Landlord. None of these actions will be deemed an acceptance of surrender of the Leased Premises. For the purpose of such reletting Landlord is authorized to decorate or to make any repairs, changes, alterations, or additions in or to the Leased Premises that may be necessary or convenient, and (i) if Landlord shall fail or refuse to relet the Leased Premises, or (viii) Tenant if the same are relet and a sufficient sum shall not be realized from such reletting, after paying the unpaid Base Rental due hereunder earned or any unpaid at the time of its successors or assigns should be adjudicated bankrupt or have an involuntary petition in bankruptcyreletting, reorganization or arrangement filed against it which is not dismissed within ninety (90) daysplus interest thereon at the rate set forth herein, or (vii) Tenant shall permitthe cost of recovering possession, allow or suffer and all of the costs and expenses of such decoration, repairs, changes, alterations, and additions, and the expense of such reletting, and of the collection of the rent accruing therefrom to exist any lien, judgment, writ, assessment, charge, attachment or execution upon Landlord’s or Tenant’s interest satisfy the payment of the rent provided for in this Lease or Agreement, then Tenant shall pay to Landlord as damages a sum equal to the Premisesamount of the rental reserved in this Lease Agreement for such period or periods, and/or or if the fixtures, and improvements and furnishings located thereon and fails within thirty (30) days either to discharge the same or provide a bond transferring same, thenLeased Premises have been relet, Tenant shall satisfy and pay any such deficiency upon demand therefor from time to time; and Tenant agrees that Landlord may file suit to recover any sums falling due under the terms of this Lease Agreement from time to time on one or more occasions without Landlord being obligated to wait until expiration of the term of this Lease Agreement and without barring or affecting in any manner Landlord's right to bring a later action or actions for further damages; nor shall such reletting be in default hereunder, or (viii) construed as an election on the leasehold estate granted part of Landlord to terminate this Lease Agreement unless a written notice of such intention be given to Tenant by Landlord. Notwithstanding any such reletting without termination, Landlord may at any time thereafter elect to terminate this Lease is taken on execution Agreement for such previous breach.
c. Without prejudice to any other remedy for default, Landlord may perform any obligation or other process make any payment required to cure a default by Tenant. The cost of law or equity in any action against Tenantperformance, including attorneys' fees and all disbursements, shall immediately be paid by Tenant to Landlord upon demand as Additional Rent.
Appears in 1 contract
Events of Default by Tenant. If It shall be an “Event of Default” under this Lease, if (i) Tenant fails to pay any Fixed Rent on the date due or additional rent for more than seven (a “Monetary Default”)7) days, after written notice thereof specifying such failure and that such failure may be an Event of Default hereunder; or (ii) Tenant fails to perform its other non-monetary obligations hereunder for more than thirty (30) days after written notice thereof from Landlord, together with such additional time, if any, as is reasonably required to cure any other default, the default if the default is of such as, but a nature that it cannot limited to, the performance of any other covenant or agreement of this Lease, or any rules and regulations attached to this Lease, or promulgated by Landlord under this Lease reasonably be cured in thirty (a “Nonmonetary Default”)30) days; or (iii) if Tenant fails to fulfill makes any of the material terms or conditions of this Lease following the giving of applicable notice and opportunity to cure or (iv) the appointment of a trustee or a receiver to take possession of all or substantially all of Tenant’s assets occurs, or if the attachment, execution or other judicial seizure of all or substantially all of Tenant’s assets located at the Premises, or of Tenant’s interest in this Lease, occurs, or (v) Tenant or any of its successors or assigns or surety of Tenant’s obligations should file any voluntary petition in bankruptcy, reorganization or arrangement, or an assignment for the benefit of creditors creditors, or for similar relief files a petition under any present bankruptcy or future statute, law or regulation relating to relief of debtors, insolvency law; or (viiv) Tenant or any of its successors or assigns should be adjudicated bankrupt or have an involuntary if such a petition in bankruptcy, reorganization or arrangement is filed against it which Tenant and is not dismissed within ninety (90) days, ; or (viiv) Tenant shall permit, allow or suffer if a receiver becomes entitled to exist any lien, judgment, writ, assessment, charge, attachment or execution upon Landlord’s or Tenant’s interest in this Lease or leasehold hereunder and it is not returned to the Premises, and/or the fixtures, and improvements and furnishings located thereon and fails Tenant within thirty ninety (3090) days either to discharge the same or provide a bond transferring same, then, Tenant shall be in default hereunder, days; or (viiivi) the such leasehold estate granted to Tenant by this Lease is taken on execution or other process of law or equity in any action against Tenant; then, and in any such cases, Landlord and the agents and servants of Landlord may, in addition to and not in derogation of any remedies for any preceding breach of covenant, immediately or at any time thereafter while such default continues and without further notice enter into and upon the Premises or any part thereof in the name of the whole or mail a notice of termination addressed to Tenant at the Premises and repossess the same as of Landlord’s former estate and expel Tenant and those claiming through or under Tenant and remove its and their effects without being deemed guilty of any manner of trespass and without prejudice to any remedies which might otherwise be used for arrears of rent or prior breach of covenant, and upon such entry or mailing as aforesaid, this Lease shall terminate, but Tenant shall remain liable as hereinafter provided. After the occurrence of an Event of Default as aforesaid, Tenant hereby waives all statutory rights of redemption, if any to the extent such rights may be lawfully waived, and Landlord, without notice to Tenant, may store Tenant’s effects and those of any person claiming through or under Tenant at the expense and risk of Tenant and, if Landlord so elects, may sell such effects at public auction or private sale and apply the net proceeds to the payment of all sums due to Landlord from Tenant, if any, and pay over the balance, if any, to Tenant.
Appears in 1 contract
Events of Default by Tenant. If The following events shall be deemed to be events of default (ieach an "Event of Default") under this Lease:
a. Tenant fails shall fail to pay when due any Base Rental, Additional Base Rental or other Rent on the date due under this Lease, which failure continues for five (5) Business Days after written notice from Landlord (hereinafter sometimes referred to as a “"Monetary Default”"); . The Notice hereunder must be delivered to Tenant as described above.
b. Any failure by Tenant (other than a Monetary Default) to comply with any term, provision or (ii) Tenant fails to cure any other default, such as, but not limited to, the performance of any other covenant or agreement of this Lease, or any rules including, without limitation, the Rules and regulations attached Regulations, which failure is not cured within twenty (20) days after delivery to this LeaseTenant of written notice of the occurrence of such failure; provided, if Tenant has promptly commenced and diligently pursued remedial action within such 20-day period but has been unable to cure its default prior to the expiration thereof, such 20-day period shall be extended for a period reasonably required for the completion of Tenant's remedial action.
c. Tenant shall become insolvent, or promulgated by Landlord under this Lease (shall make a “Nonmonetary Default”); or (iii) Tenant fails to fulfill any transfer in fraud of the material terms or conditions of this Lease following the giving of applicable notice and opportunity to cure or (iv) the appointment of a trustee or a receiver to take possession of all or substantially all of Tenant’s assets occurscreditors, or if the attachment, execution shall commit an act of bankruptcy or other judicial seizure of all or substantially all of Tenant’s assets located at the Premises, or of Tenant’s interest in this Lease, occurs, or (v) Tenant or any of its successors or assigns or surety of Tenant’s obligations should file any voluntary petition in bankruptcy, reorganization or arrangement, or shall make an assignment for the benefit of creditors creditors, or for Tenant shall admit in writing its inability to pay its debts as they become due.
d. Tenant shall file a petition under any section or chapter of the United States Bankruptcy Code, as amended, pertaining to bankruptcy, or under any similar relief law or statute of the United States or any State thereof, or Tenant shall be adjudged bankrupt or insolvent in proceedings filed against Tenant thereunder, or a petition or answer proposing the adjudication of Tenant or any provision of covenant of this Lease, including, without limitation, Tenant's obligation to pay Rent when due, on three (3) occasions as a debtor, or its reorganization under any present or future statute, federal or state bankruptcy or similar law shall be filed in any court and such petition or regulation relating to relief answer shall not be discharged or denied within sixty (60) days after the filing thereof.
e. A receiver or trustee shall be appointed for all or substantially all of debtors, the assets of Tenant or (vi) of the Premises or of any of Tenant's Property located thereon in any proceeding brought by Tenant or any of its successors such receiver or assigns should trustee shall be adjudicated bankrupt appointed in any proceeding brought against Tenant and shall not be discharged within sixty (60) days after such appointment or have an involuntary petition in bankruptcy, reorganization or arrangement filed against it which is not dismissed within ninety (90) days, or (vii) Tenant shall permit, allow consent to or suffer to exist any lien, judgment, writ, assessment, charge, attachment or execution upon Landlord’s or Tenant’s interest acquiesce in this Lease or to the Premises, and/or the fixtures, and improvements and furnishings located thereon and fails within thirty (30) days either to discharge the same or provide a bond transferring same, then, Tenant such appointment.
f. The leasehold estate hereunder shall be in default hereunder, or (viii) the leasehold estate granted to Tenant by this Lease is taken on execution or other process of law or equity in any action against Tenant.
g. Tenant shall abandon or vacate any substantial portion of the first floor offices or one floor of either the sixteenth or seventeenth floors of the Premises without the prior written consent of Landlord.
h. Tenant shall fail to take possession of and occupy the Lobby/Branch Space of the Premises within thirty (60) days following the Commencement Date.
i. The liquidation, termination, dissolution, or forfeiture of right to do business of Tenant.
Appears in 1 contract
Events of Default by Tenant. If The happening of any one or more of the following listed events (iEvents of Default) shall constitute a breach of this Lease by Tenant: (a) the failure of Tenant fails to pay any Rent on the date due (a “Monetary Default”); rent or (ii) Tenant fails to cure any other default, sums of money due hereunder if such as, but not limited to, failure shall continue for a period of three (3) days after written notice; (b) the performance failure of Tenant to comply with any other covenant or agreement of this Lease, or any rules and regulations attached to this Lease, or promulgated by Landlord under this Lease (a “Nonmonetary Default”); or (iii) Tenant fails to fulfill any of the material terms or conditions provision of this Lease following or any other agreement between Landlord and Tenant (all of which terms, provisions, and covenants shall be deemed material) within ten (10) days after written notice; provided, however, that if the giving failure does not pose a threat to the health or safety of applicable notice any person and opportunity if the nature of the failure is such that more than ten days would be reasonably required to cure or (iv) the appointment of a trustee or a receiver to take possession of all or substantially all of Tenant’s assets occursfailure, or if the attachment, execution or other judicial seizure of all or substantially all of Tenant’s assets located at the Premises, or of Tenant’s interest in this Lease, occurs, or (v) Tenant or any of its successors or assigns or surety of Tenant’s obligations should file any voluntary petition in bankruptcy, reorganization or arrangement, or an assignment for the benefit of creditors or for similar relief under any present or future statute, law or regulation relating to relief of debtors, or (vi) Tenant or any of its successors or assigns should be adjudicated bankrupt or have an involuntary petition in bankruptcy, reorganization or arrangement filed against it which is not dismissed within ninety (90) days, or (vii) then Tenant shall permit, allow not be in default provided that Tenant commences to cure the default within such ten-day period and thereafter Tenant diligently cures such failure or suffer to exist any lien, judgment, writ, assessment, charge, attachment or execution upon Landlord’s or Tenant’s interest in this Lease or to the Premises, and/or the fixtures, and improvements and furnishings located thereon and fails default within thirty (30) days either to discharge after the same or provide a bond transferring samewritten notice, thenand provided, however, that if the Tenant shall have failed to comply with any provision of this Lease on two (2) or more occasions within any twelve (12) month period, and if notice thereof shall have been provided by Landlord, no notice or opportunity for cure shall be in default hereunder, or required with respect to any subsequent noncompliance with the Lease; (viiic) the taking of the [LANDLORD'S INITIALS ______] [TENANT'S INITIALS ______] leasehold estate granted to Tenant by this Lease is taken on execution or other process of law or equity in any action against Tenant; (d) the failure of Tenant to accept the Premises, to promptly move into, complete any tenant improvements to, take possession of, and to operate its business in the Premises after the Commencement Date, or if Tenant ceases to do business in or abandons any substantial portion of the Premises, other than on account of force majeure; (e) Tenant becoming insolvent or unable to pay its debts as they become due, or Tenant's notice to Landlord that it anticipates either condition; (f) the filing of any bankruptcy or similar proceeding by or against Tenant under any applicable law; (g) the appointment of a receiver or trustee for Tenant's leasehold interest in the Premises or for all or a substantial part of the assets of Tenant; (i) the death or dissolution of the Tenant; and (h) any other act or omission designated as an Event of Default in this Lease. The notices to Tenant required, and the opportunities for cure provided, under this Subsection 18.1 are the exclusive notice requirements and cure periods available to Tenant for any breach of this Lease, and Tenant hereby waives all other or additional notice requirements, cure periods, and rights of redemption imposed, created, provided, or otherwise allowed by law.
Appears in 1 contract
Sources: Retail Lease Agreement (Family Steak Houses of Florida Inc)
Events of Default by Tenant. The following shall constitute events of default by Tenant:
(a) If Tenant shall fail to make any payment due under this Lease Agreement, and such failure shall continue for ten (i10) Tenant fails to pay any Rent on the date due days after written notice by Landlord; (b) if a “Monetary Default”); or (ii) Tenant fails to cure any other default, such as, but not limited to, default exists in the performance of any of the other covenant covenants or agreement of this Leaseconditions which Tenant is required to observe and to perform, or any rules and regulations attached to this Lease, or promulgated such default shall continue for thirty (30) days after written notice by Landlord or such longer period as reasonably required if Tenant commences and diligently pursues the cure of default within said thirty (30) day period; (c) if the interest of Tenant under this Lease (a “Nonmonetary Default”); Agreement is levied upon, or (iii) Tenant fails to fulfill any of the material terms is under execution or conditions of this Lease following the giving of applicable notice and opportunity to cure or (iv) the appointment of a trustee or a receiver to take possession of all or substantially all of Tenant’s assets occursother legal process, or if the attachmentany petition shall be filed by or against Tenant to declare Tenant as bankrupt or to delay, execution reduce, or modify Tenant's debts or obligations, which petition or case is not dismissed within sixty days thereafter; (d) if any petition shall be filed or other judicial seizure of all action taken to reorganize or substantially all modify Tenant's capital structure if Tenant be a corporation or other entity; (e) if Tenant is declared insolvent, or if any assignment of Tenant’s assets located at the Premises, or of Tenant’s interest in this Lease, occurs, or (v) Tenant or any of its successors or assigns or surety of Tenant’s obligations should file any voluntary petition in bankruptcy, reorganization or arrangement, or an assignment 's property is made for the benefit of creditors or if a receiver or trustee is appointed for similar relief under Tenant or its property; (f) if Tenant vacates without payment of rent or abandons the Leased Premises during the term of this Lease Agreement or any present extensions thereof; or future statute(g) if Tenant makes any transfer of any interest in the Leased Premises not in accordance with the requirements of this Lease Agreement, then Landlord may treat the occurrence of any one or more of the foregoing events as a breach of this Lease Agreement and thereupon, at Landlord's option, Landlord shall have one or more of the following described remedies in addition to all other rights and remedies provided at law or regulation relating to relief of debtors, or (vi) Tenant or any of its successors or assigns should be adjudicated bankrupt or have an involuntary petition in bankruptcy, reorganization or arrangement filed against it which is not dismissed within ninety (90) days, or (vii) Tenant shall permit, allow or suffer to exist any lien, judgment, writ, assessment, charge, attachment or execution upon Landlord’s or Tenant’s interest in equity:
a. . Landlord may terminate this Lease Agreement and forthwith, in accordance with applicable law, repossess the Leased Premises and remove all persons or property therefrom, and be entitled to recover as damages a sum of money equal to the Premisestotal of (i) the cost of recovering the Leased Premises (ii) the unpaid rent owed thereon from due date plus interest thereon at the rate of 18% per annum or the maximum rate permitted by applicable law, and/or whichever is lower, (iii) the fixturesdifference between the present value of the balance of the rent for the remainder of the term, discounted to the present at 8% per annum, minus the aggregate fair market rental value of the Leased Premises for the remainder of the Lease Term, and improvements (iv) any other sum of money and furnishings located thereon and fails within thirty (30) days either damages owed by Tenant to discharge the same or provide a bond transferring same, then, Tenant shall be in default hereunder, or (viii) the leasehold estate granted to Tenant by this Lease is taken on execution or other process of law or equity in any action against Tenant.Landlord;
Appears in 1 contract
Events of Default by Tenant. If It shall be an Event of Default under this Lease, if (i) Tenant fails to pay any Base Rent on the date due or additional rent, and such failure continues for more than seven (a “Monetary Default”)7) business days after written notice thereof specifying such failure and that such failure may be an Event of Default hereunder; or (ii) Tenant fails to perform its other non-monetary obligations hereunder for more than thirty (30) days after notice thereof from Landlord, together with such additional time, if any, as is reasonably required to cure any other default, the default if the default is of such as, but a nature that it cannot limited to, the performance of any other covenant or agreement of this Lease, or any rules and regulations attached to this Lease, or promulgated by Landlord under this Lease reasonably be cured in thirty (a “Nonmonetary Default”)30) days; or (iii) if Tenant fails to fulfill makes any of the material terms or conditions of this Lease following the giving of applicable notice and opportunity to cure or (iv) the appointment of a trustee or a receiver to take possession of all or substantially all of Tenant’s assets occurs, or if the attachment, execution or other judicial seizure of all or substantially all of Tenant’s assets located at the Premises, or of Tenant’s interest in this Lease, occurs, or (v) Tenant or any of its successors or assigns or surety of Tenant’s obligations should file any voluntary petition in bankruptcy, reorganization or arrangement, or an assignment for the benefit of creditors creditors, or for similar relief files a petition under any present bankruptcy or future statute, law or regulation relating to relief of debtors, insolvency law; or (viiv) Tenant or any of its successors or assigns should be adjudicated bankrupt or have an involuntary if such a petition in bankruptcy, reorganization or arrangement is filed against it which Tenant and is not dismissed within sixty (60) days; or (v) if a receiver becomes entitled to Tenant’s leasehold hereunder and it is not returned to Tenant within ninety (90) days, ; or (viivi) Tenant shall permit, allow or suffer to exist any lien, judgment, writ, assessment, charge, attachment or execution upon Landlord’s or Tenant’s interest in this Lease or to the Premises, and/or the fixtures, and improvements and furnishings located thereon and fails within thirty (30) days either to discharge the same or provide a bond transferring same, then, Tenant shall be in default hereunder, or (viii) the such leasehold estate granted to Tenant by this Lease is taken on execution or other process of law or equity in any action against Tenant; then, and in any such cases, Landlord and the agents and servants of Landlord may, in addition to and not in derogation of any remedies for any preceding breach of covenant, immediately or at any time thereafter while such default continues and without further notice, enter into and upon the Premises or any part thereof in the name of the whole or mail a notice of termination addressed to Tenant at the Premises and repossess the same as of Landlord’s former estate and expel Tenant and those claiming through or under Tenant and remove its and their effects without being deemed guilty of any manner of trespass and without prejudice to any remedies which might otherwise be used for arrears of rent or prior breach of covenant, and upon such entry or mailing as aforesaid, this Lease shall terminate, but Tenant shall remain liable as hereinafter provided. After the occurrence of an Event of Default as aforesaid, Tenant hereby waives all statutory rights of redemption, if any to the extent such rights may be lawfully waived, and Landlord, without notice to Tenant, may store Tenant’s effects and those of any person claiming through or under Tenant at the expense and risk of Tenant and, if Landlord so elects, may sell such effects at public auction or private sale and apply the net proceeds to the payment of all sums due to Landlord from Tenant, if any, and pay over the balance, if any, to Tenant.
Appears in 1 contract
Sources: Lease Agreement (Green Mountain Coffee Roasters Inc)
Events of Default by Tenant. If The following conditions and events shall constitute "Events of Default" by Tenant for purposes of this Lease:
(i) Tenant fails to make or pay any Rent on the date rents, fees, taxes, charges or other payments required hereunder when due to Landlord or others, within thirty (a “Monetary Default”); or 30) days after receipt of written notice from Landlord of non-payment thereof;
(ii) Tenant fails to cure keep, perform and observe each and every promise, covenant, warranty and condition set forth in this Lease on its part to be kept, performed or observed for sixty (60) days after receipt of written notice of such failure from Landlord, except where fulfillment of such obligation requires activity over a period of time and Tenant has commenced to perform whatever may be required within thirty (30) days after receipt of such written notice from Landlord and continues such performances without interruption, except for causes beyond its control. Notwithstanding the foregoing, if Tenant, within forty-five (45) days after the receipt of such written notice of default, shall in good faith dispute the existence of any such default by both written notice to Landlord and shall also in good faith institute appropriate legal proceedings in the Court, naming each Registered Mortgagee as a party and requesting declaratory relief or another appropriate remedy for the resolution of such dispute, then, so long as such proceedings have not been finally determined and Tenant is diligently prosecuting same, Landlord shall not have the right to terminate this Lease or exercise any other remedy of Landlord hereunder on account of the alleged default; provided, however, that the foregoing provisions of this Subsection 12.B(ii) shall not be construed to preclude a Court of competent jurisdiction from entering temporary orders or otherwise exercising its equitable powers to protect the interests of the parties during the pendency of the above described proceedings. If it shall be finally determined in such proceedings that Tenant is in default, then the time within which Tenant shall have to remedy the same as set forth above shall be computed from the date of such as, determination but not limited to, Tenant and each Registered Mortgagee shall have no further right under this Subsection 12.B(ii) to dispute such default. No such dispute by Tenant or the filing or prosecution of any such proceedings shall operate to relieve Tenant from or permit Tenant to defer the performance of any other covenant or agreement of this Leaseits obligations hereunder not specifically under dispute, or and Tenant shall not be relieved of any rules and regulations attached liability to this Lease, or promulgated Landlord for actual damages (including any consequential damages to the extent Landlord promptly notifies Tenant of the same as soon as Landlord could reasonably be expected to be aware that such damages may occur) suffered by Landlord under this Lease (a “Nonmonetary Default”); or if Tenant contests the existence of the Event of Default by appropriate proceedings as provided above but fails to prevail in such proceedings. If the Court in which such proceedings have been instituted determines that such proceedings have not been brought by Tenant in good faith, such court shall make an award of damages therefor, including attorney's fees, costs and all expenses.
(iii) Tenant fails to fulfill The levy of any attachment or execution, or the appointment of any receiver, or the execution of any other process of any court of competent jurisdiction which is not vacated, dismissed or set aside within a period of sixty (60) days from its inception and which interferes or may interfere with Tenant's use of the material terms Amphitheater or conditions of with Tenant's operations under this Lease following the giving of applicable notice and opportunity to cure or Lease.
(iv) Tenant becomes insolvent, or takes the benefit of any present or future insolvency statute, or makes a general assignment for the benefit of creditors, or files a voluntary petition in bankruptcy, or a petition or answer seeking an arrangement for reorganization or for the readjustment of indebtedness under the federal bankruptcy laws or under any other law or statute of the United States, or of any state law, or consents to the appointment of a receiver, trustee or liquidator for all or substantially all of its property located within the Property.
(v) By order or decree of Court, Tenant is adjudged bankrupt, or an order is made approving a receiver to take petition filed by any of the creditors or stockholders of Tenant seeking the reorganization or the readjustment of its indebtedness under the federal bankruptcy laws, or under any law or statute of the United States, or any state thereof.
(vi) A petition under any part of the federal bankruptcy laws or an action under any present or future insolvency law or statute is filed against Tenant and is not dismissed within one hundred twenty (120) days from the date of filing.
(vii) By, pursuant to, or under authority of (a) any legislative act, resolution or rule, or (b) any order or decree of any court, governmental board, agency or officer having jurisdiction, a receiver, trustee or liquidator takes possession or control of all or substantially all of the property of Tenant’s assets occurs, and such possession or control continues in effect for a period of sixty (60) days from the date of such possession or control.
(viii) If a default under any Mortgage shall have occurred, Tenant shall not object to any Registered Mortgagee exercising, with respect to the Property, any right, power, or if remedy under the attachment, execution or other judicial seizure of all or substantially all of Tenant’s assets located at the Premises, or of Tenant’s interest in this Lease, occurs, or (v) Tenant or any of its successors or assigns or surety of Tenant’s obligations should file any voluntary petition in bankruptcy, reorganization or arrangement, or an assignment for the benefit of creditors or for similar relief under any present or future statute, law or regulation relating to relief of debtors, or (vi) Tenant or any of its successors or assigns should be adjudicated bankrupt or have an involuntary petition in bankruptcy, reorganization or arrangement filed against it Mortgage which is not dismissed within ninety (90) days, or (vii) Tenant shall permit, allow or suffer to exist any lien, judgment, writ, assessment, charge, attachment or execution upon Landlord’s or Tenant’s interest in conflict with the provisions of this Lease or to the Premises, and/or the fixtures, and improvements and furnishings located thereon and fails within thirty (30) days either to discharge the same or provide a bond transferring same, then, Tenant shall be in default hereunder, or (viii) the leasehold estate granted to Tenant by this Lease is taken on execution or other process of law or equity in any action against TenantLease.
Appears in 1 contract
Events of Default by Tenant. If (i) Tenant fails to pay Annual Rent or any Rent on the date other payment obligation hereunder when due (provided, however, that payment of by Tenant of the monthly installment of Annual Rent and other payment obligations due therewith not more than five (5) days after the due date shall not 35 be considered a “Monetary Default”default hereunder provided that such late payment does not occur more than once in any twelve (12) month period); or (ii) if Tenant fails to cure execute or deliver any estoppel certificate or other default, such as, but not limited to, the performance of document described in any other covenant or agreement of this Lease, or any rules and regulations attached to this Lease, or promulgated by Landlord under this Lease (a “Nonmonetary Default”); or (iii) Tenant fails to fulfill any of the material terms or conditions section of this Lease following within the giving time period prescribed therein, and such failure continues for five days after receiving notice of applicable notice and opportunity to cure or (iv) the appointment of a trustee or a receiver to take possession of all or substantially all of Tenant’s assets occurs, such default; or if the attachment, execution or any default by Tenant with respect to any other judicial seizure of all or substantially all of Tenant’s assets located at the Premises, or of Tenant’s interest in this Lease, occurs, or (v) Tenant or any of its successors or assigns or surety of Tenant’s obligations should file any voluntary petition in bankruptcy, reorganization or arrangement, or an assignment non-monetary obligation hereunder continues for the benefit of creditors or for similar relief under any present or future statute, law or regulation relating to relief of debtors, or (vi) Tenant or any of its successors or assigns should be adjudicated bankrupt or have an involuntary petition in bankruptcy, reorganization or arrangement filed against it which is not dismissed within ninety (90) days, or (vii) Tenant shall permit, allow or suffer to exist any lien, judgment, writ, assessment, charge, attachment or execution upon Landlord’s or Tenant’s interest in this Lease or to the Premises, and/or the fixtures, and improvements and furnishings located thereon and fails within more than thirty (30) days either after notice and such additional time, if any, as is reasonably necessary to discharge cure the same default if the default is of such a nature that it cannot reasonably be cured in thirty (30) days and Tenant diligently and continuously prosecutes such cure to completion; or provide if Tenant abandons the Premises for ninety (90) consecutive days; or if Tenant becomes insolvent, fails to pay its debts as they fall due, files a bond transferring samepetition under any chapter of the U.S. Bankruptcy Code, then11 U.S.C. 101 et seq., Tenant shall as it may be in default hereunderamended (or any similar petition under any insolvency law of any jurisdiction), or if such petition is filed against Tenant and not dismissed within sixty (viii60) days of such filing; or if Tenant proposes any dissolution, liquidation, composition, financial reorganization or recapitalization with creditors, makes an assignment or trust mortgage for benefit of creditors, or if a receiver, trustee, custodian or similar agent is appointed or takes possession with respect to Tenant; or if the leasehold estate granted to Tenant by this Lease hereby created is taken on execution or other process of law or equity in any action against Tenant; then and “Event of Default” shall be deemed to have occurred by Tenant, and in any such case, Landlord and the agents and servants of Landlord may, in addition to and not in derogation of any remedies for any preceding breach of covenant, immediately or at any time thereafter and without further notice, at Landlord’s election, do any one or more of the following: (i) give Tenant written notice stating that the Lease is terminated, effective upon the giving of such notice or upon a date stated in such notice, as Landlord may elect, in which event the Lease shall be irrevocably extinguished and terminated as stated in such notice without any further action, or (ii) with or without process of law, in a lawful manner enter and repossess the Premises as of Landlord’s former estate, and expel Tenant and those claiming through or under Tenant, and remove its and their effects, without being guilty of trespass, in which event the Lease shall be irrevocably extinguished and terminated at the time of such entry, or (iii) pursue any other rights or remedies permitted by law. Any such termination of the Lease shall be without prejudice to any remedies which might otherwise be used for arrears of rent or prior breach of covenant, and in the event of such termination Tenant shall remain liable under this Lease as hereinafter provided. Tenant hereby waives all statutory rights (including, without limitation, rights of redemption, if any) to the extent such rights may be lawfully waived, and Landlord, without notice to Tenant, may store Tenant’s effects and those of any person claiming through or under Tenant at the expense and risk of Tenant and, if Landlord so elects, may sell such effects at public auction or private sale and apply the net proceeds to the payment of all sums due to Landlord from Tenant, if any, and pay over the balance, if any, to Tenant.
Appears in 1 contract
Sources: Lease Agreement (AMICAS, Inc.)
Events of Default by Tenant. If The happening of any one or more of the following listed events (i"Events of Default") shall constitute a breach of this Lease by Tenant:
(a) The failure of Tenant fails to pay any Rent on rent or any other sums of money within ten (10) days after receipt of written notice from Landlord that such rent or other sum of money is due; provided, however that Landlord shall only be required to notify Tenant in writing of such failure to pay two (2) times during any twelve month period, and after the second such written notice within such twelve (12) month period, it shall be an Event of Default if Tenant shall fail to pay any rent or any other sums of money within ten (10) days of the date due such amounts are due.
(a “Monetary Default”); or (iib) Tenant fails to cure any Except for the payment of rent and other default, such as, but not limited tosums of money hereunder, the performance of any other covenant or agreement of this Lease, or any rules and regulations attached to this Lease, or promulgated by Landlord under this Lease (a “Nonmonetary Default”); or (iii) Tenant fails to fulfill any of the material terms or conditions of this Lease following the giving of applicable notice and opportunity to cure or (iv) the appointment of a trustee or a receiver to take possession of all or substantially all failure of Tenant’s assets occurs, or if the attachment, execution or other judicial seizure of all or substantially all of Tenant’s assets located at the Premises, or of Tenant’s interest in this Lease, occurs, or (v) Tenant or any of its successors or assigns or surety of Tenant’s obligations should file any voluntary petition in bankruptcy, reorganization or arrangement, or an assignment for the benefit of creditors or for similar relief under any present or future statute, law or regulation relating to relief of debtors, or (vi) Tenant or any of its successors or assigns should be adjudicated bankrupt or have an involuntary petition in bankruptcy, reorganization or arrangement filed against it which is not dismissed within ninety (90) days, or (vii) Tenant shall permit, allow or suffer to exist any lien, judgment, writ, assessment, charge, attachment or execution upon Landlord’s or Tenant’s interest in this Lease or to the Premises, and/or the fixtures, and improvements and furnishings located thereon and fails within thirty (30) days either after receipt of written notice from Landlord, to discharge comply with any provision of this Lease or any other agreement between Landlord and Tenant, all of which terms, provisions and covenants shall be deemed material; provided, however, that if the nature of Tenant's failure is such that it cannot reasonably be cured within such thirty (30) day period, the time for curing such failure shall be extended for such period of time as may be necessary to complete such cure provided Tenant shall proceed promptly to cure the same or provide a bond transferring sameand shall prosecute such cure continuously, then, in good faith and with due diligence.
(c) If the Tenant shall be (i) apply for or consent to the appointment of a receiver, trustee or liquidator of the Tenant or of all or a substantial part of its assets, (ii) admit in default hereunderwriting its inability to pay its debts as they come due, (iii) make a general assignment for the benefit of creditors, (iv) file a petition or an answer seeking reorganization or arrangement with creditors or to take advantage of any insolvency law other than the Federal Bankruptcy Code, (v) file an answer admitting the material allegations of a petition filed against the Tenant in any reorganization or insolvency proceedings, other than a proceeding commenced pursuant to the Federal Bankruptcy Code, or (viii) if any order, judgment or decree shall be entered by any court of competent jurisdiction, except for a bankruptcy court or a federal court sitting as a bankruptcy court, adjudicating the leasehold estate granted to Tenant by this Lease is taken on execution insolvent, or other process approving a petition seeking reorganization of law the Tenant, or equity in any action against Tenantappointing a receiver, trustee or liquidator of the Tenant or of all or a substantial part of its assets.
Appears in 1 contract
Events of Default by Tenant. If Each of the following constitutes an Event of Default by Tenant (iherein so called):
(a) Tenant fails or refuses to pay any Rent on installment of Minimum Rent, Additional Rent, or any other sum payable under this Lease when due, and the date failure or refusal continues for at least ten (10) days after the due date.
(a “Monetary Default”); or (iib) Tenant fails or refuses to cure comply with any other default, such as, but not limited to, the performance of any other covenant or agreement of this Lease, or any rules and regulations attached to this Lease, or promulgated by Landlord under this Lease (a “Nonmonetary Default”); or (iii) Tenant fails to fulfill any of the material terms or conditions provision of this Lease following not requiring the giving payment of applicable notice and opportunity to cure or (iv) the appointment of a trustee or a receiver to take possession of all or substantially all of Tenant’s assets occurs, or if the attachment, execution or other judicial seizure of all or substantially all of Tenant’s assets located at the Premises, or of Tenant’s interest in this Lease, occurs, or (v) Tenant or any of its successors or assigns or surety of Tenant’s obligations should file any voluntary petition in bankruptcy, reorganization or arrangement, or an assignment for the benefit of creditors or for similar relief under any present or future statute, law or regulation relating to relief of debtors, or (vi) Tenant or any of its successors or assigns should be adjudicated bankrupt or have an involuntary petition in bankruptcy, reorganization or arrangement filed against it which is not dismissed within ninety (90) days, or (vii) Tenant shall permit, allow or suffer to exist any lien, judgment, writ, assessment, charge, attachment or execution upon Landlord’s or Tenant’s interest in this Lease or to the Premises, and/or the fixturesmoney, and improvements and furnishings located thereon and fails within the failure or refusal continues for at least thirty (30) days either after written notice from Landlord; provided, however, if any failure by Tenant to discharge the same or provide comply with this Lease cannot be corrected within such 30-day period solely as a bond transferring sameresult of nonfinancial circumstances outside of Tenant's control, thenand if Tenant has commenced substantial corrective actions within such 30-day period and is diligently pursuing such corrective actions, Tenant such 30-day period shall be in default hereunder, or extended for such additional time as is reasonably necessary to allow completion of actions to correct Tenant's noncompliance.
(viiic) the Tenant's leasehold estate granted to Tenant by this Lease is taken on execution or other process of law or equity in any action against Tenant.
(d) Tenant fails or refuses to take occupancy of the Premises upon the Commencement Date, or Tenant ceases to do business in, or abandons any substantial part of, the Premises.
(e) Tenant or any guarantor of this Lease files a petition under any chapter of the United States Bankruptcy Code, as amended, or under any similar law or statute of the United States or any state, or a petition is filed against Tenant or any such guarantor under any such statute and not dismissed with prejudice within twenty (20) days of filing, or a receiver or trustee is appointed for Tenant's leasehold estate or for any substantial part of the assets of Tenant or any such guarantor and such appointment is not dismissed with prejudice within sixty (60) days, or Tenant or any such guarantor makes an assignment for the benefit of creditors.
Appears in 1 contract
Sources: Office Lease Agreement (Pinnacle Financial Partners Inc)
Events of Default by Tenant. If Any of the following constitutes an Event of Default by Tenant under this Lease:
(a) any Rent is in arrears and is not paid within five Business Days after notice from the Landlord;
(b) the Tenant has breached any of its obligations in this Lease and, if such breach is capable of being remedied and is not otherwise listed in this Section 15.1, after notice from the Landlord:
(i) the Tenant fails to pay any Rent on the date due remedy such breach within 15 days (a “Monetary Default”or such shorter period as may be provided in this Lease); or or
(ii) if such breach cannot reasonably be remedied within 15 days or such shorter period, the Tenant fails to cure commence to remedy such breach within such 15 days or shorter period or thereafter fails to proceed diligently to remedy such breach;
(c) the Lease or any other defaultmaterial goods, chattels or equipment of the Tenant is seized, taken or exigible in execution or in attachment or if a writ of execution or enforcement is issued against the Tenant and such as, but writ is not limited to, stayed or vacated within 15 days after the performance date of such issue;
(d) the Tenant becomes insolvent or commits an act of bankruptcy or takes the benefit of any other covenant statute for bankrupt or agreement of this Leaseinsolvent debtors or makes any proposal, assignment, compromise or any rules and regulations attached to this Lease, or promulgated by Landlord under this Lease (a “Nonmonetary Default”); or (iii) Tenant fails to fulfill any of the material terms or conditions of this Lease following the giving of applicable notice and opportunity to cure or (iv) the appointment of a trustee or a receiver to take possession of all or substantially all of Tenant’s assets occursarrangement with its creditors, or if the attachment, execution or other judicial seizure of a receiver is appointed for all or substantially all part of the business, property, affairs or revenues of the Tenant’s assets located at ;
(e) the Tenant makes a bulk sale of its goods (other than in conjunction with a Transfer approved by the Landlord) or moves or commences, attempts or threatens to move its goods, chattels and equipment out of the Premises (other than in the normal course of its business);
(f) the Tenant abandons or attempts to abandon the Premises or ceases to conduct business from the Premises, or the Premises become vacant or substantially unoccupied for a period of Tenant’s interest 30 consecutive days; or
(g) the Tenant purports to effect a Transfer other than in compliance with the provisions of this Lease, occurs, or (v) Tenant or any of its successors or assigns or surety of Tenant’s obligations should file any voluntary petition in bankruptcy, reorganization or arrangement, or an assignment for the benefit of creditors or for similar relief under any present or future statute, law or regulation relating to relief of debtors, or (vi) Tenant or any of its successors or assigns should be adjudicated bankrupt or have an involuntary petition in bankruptcy, reorganization or arrangement filed against it which is not dismissed within ninety (90) days, or (vii) Tenant shall permit, allow or suffer to exist any lien, judgment, writ, assessment, charge, attachment or execution upon Landlord’s or Tenant’s interest in this Lease or to the Premises, and/or the fixtures, and improvements and furnishings located thereon and fails within thirty (30) days either to discharge the same or provide a bond transferring same, then, Tenant shall be in default hereunder, or (viii) the leasehold estate granted to Tenant by this Lease is taken on execution or other process of law or equity in any action against Tenant.
Appears in 1 contract
Events of Default by Tenant. If It shall be an “Event of Default” under this Lease, if (i) Tenant fails to pay any Fixed Rent on the date due or additional rent for more than seven (a “Monetary Default”)7) days, after notice thereof specifying such failure and that such failure may be an Event of Default hereunder; or (ii) Tenant fails to perform its other non-monetary obligations hereunder for more than thirty (30) days after notice thereof from Landlord, together with such additional time, if any, as is reasonably required to cure any other default, the default if the default is of such as, but a nature that it cannot limited to, the performance of any other covenant or agreement of this Lease, or any rules and regulations attached to this Lease, or promulgated by Landlord under this Lease reasonably be cured in thirty (a “Nonmonetary Default”)30) days; or (iii) if Tenant fails to fulfill makes any of the material terms or conditions of this Lease following the giving of applicable notice and opportunity to cure or (iv) the appointment of a trustee or a receiver to take possession of all or substantially all of Tenant’s assets occurs, or if the attachment, execution or other judicial seizure of all or substantially all of Tenant’s assets located at the Premises, or of Tenant’s interest in this Lease, occurs, or (v) Tenant or any of its successors or assigns or surety of Tenant’s obligations should file any voluntary petition in bankruptcy, reorganization or arrangement, or an assignment for the benefit of creditors creditors, or for similar relief files a petition under any present bankruptcy or future statute, law or regulation relating to relief of debtors, insolvency law; or (viiv) Tenant or any of its successors or assigns should be adjudicated bankrupt or have an involuntary if such a petition in bankruptcy, reorganization or arrangement is filed against it which Tenant and is not dismissed within one hundred and twenty (120) days; or (v) if a receiver becomes entitled to Tenant's leasehold hereunder and it is not returned to Tenant within ninety (90) days, ; or (viivi) Tenant shall permit, allow or suffer to exist any lien, judgment, writ, assessment, charge, attachment or execution upon Landlord’s or Tenant’s interest in this Lease or to the Premises, and/or the fixtures, and improvements and furnishings located thereon and fails within thirty (30) days either to discharge the same or provide a bond transferring same, then, Tenant shall be in default hereunder, or (viii) the such leasehold estate granted to Tenant by this Lease is taken on execution or other process of law or equity in any action against Tenant; then, and in any such cases, Landlord and the agents and servants of Landlord may, in addition to and not in derogation of any remedies for any preceding breach of covenant, immediately or at any time thereafter while such default continues and without further notice enter into and upon the Premises or any part thereof in the name of the whole or mail a notice of termination addressed to Tenant at the Premises and repossess the same as of Landlord's former estate and expel Tenant and those claiming through or under Tenant and remove its and their effects without being deemed guilty of any manner of trespass and without prejudice to any remedies which might otherwise be used for arrears of rent or prior breach of covenant, and upon such entry or mailing as aforesaid, this Lease shall terminate, but Tenant shall remain liable as hereinafter provided. After the occurrence of an Event of Default as aforesaid, Tenant hereby waives all statutory rights of redemption, if any to the extent such rights may be lawfully waived, and Landlord, without notice to Tenant, may store Tenant's effects and those of any person claiming through or under Tenant at the expense and risk of Tenant and, if Landlord so elects, may sell such effects at public auction or private sale and apply the net proceeds to the payment of all sums due to Landlord from Tenant, if any, and pay over the balance, if any, to Tenant.
Appears in 1 contract
Sources: Lease Agreement (Nexx Systems Inc)
Events of Default by Tenant. If (i) Tenant fails to pay any Rent on the date due (a “Monetary Default”); or (ii) Tenant fails to cure any other default, such as, but not limited to, the performance The occurrence of any other covenant or agreement of this Lease, or any rules and regulations attached to this Lease, or promulgated by Landlord under this Lease (a “Nonmonetary Default”); or (iii) Tenant fails to fulfill any of the following shall constitute a material terms or conditions default and breach of this Lease following by Tenant:
(A) The failure by Tenant to pay Rent as and when due.
(B) The abandonment or vacation of the giving Premises by Tenant.
(C) Any prohibited Transfer under this Lease.
(D) The failure by Tenant to furnish Landlord any Subordination, Non-Disturbance and Attornment Agreement or Estoppel Certificate requested by Landlord within the time period prescribed herein.
(E) The failure by Tenant to observe or perform any other provision of applicable this Lease if such failure continues for thirty (30) days after written notice thereof by Landlord to Tenant. The thirty (30) day notice described herein shall be in lieu of; and opportunity not in addition to, any notice required any other law now or hereafter in effect requiring that notice of default be given prior to cure the commencement of a forcible entry and detainer or other legal proceeding.
(ivF) The making by Tenant, or if Tenant is a partnership or limited liability company by any partner or member thereof, of any general assignment for the benefit of creditors, the filing by or against Tenant or any one or more of the Guarantors, if any, of a petition under any federal or state bankruptcy or insolvency laws; the appointment of a trustee or a receiver to take possession of all or substantially all of Tenant’s 's assets occurs, at the Premises or if Tenant's interest in this Lease or the Premises; the attachment, execution or other judicial seizure of all or substantially all of Tenant’s 's assets located at the Premises, Premises or of Tenant’s 's interest in this LeaseLease or the Premises; or the death or the dissolution of Tenant or any one or more of the Guarantors, occursif any.
(G) Any material misrepresentation herein, or material misrepresentation or omission in any financial statements or other materials provided by Tenant or any Guarantor in connection with negotiating or entering into this Lease or in connection with any Transfer under Article XIV.
(vH) Tenant's default under any other lease heretofore or hereafter made by Tenant or any of its successors Affiliates for any other space in the Project or assigns other Projects of Landlord or surety of Tenant’s obligations should file any voluntary petition in bankruptcy, reorganization or arrangement, or an assignment for the benefit of creditors or for similar relief its affiliates.
(I) A default under any present or future statute, law or regulation relating guaranty executed and delivered by Guarantor to relief Landlord with respect to any obligation(s) of debtors, or (vi) Tenant or any of its successors or assigns should be adjudicated bankrupt or have an involuntary petition in bankruptcy, reorganization or arrangement filed against it which is not dismissed within ninety (90) days, or (vii) Tenant shall permit, allow or suffer to exist any lien, judgment, writ, assessment, charge, attachment or execution upon Landlord’s or Tenant’s interest in under this Lease or to the Premises, and/or the fixtures, and improvements and furnishings located thereon and fails within thirty (30) days either to discharge the same or provide a bond transferring same, then, Tenant shall be in default hereunder, or (viii) the leasehold estate granted to Tenant by this Lease is taken on execution or other process of law or equity in any action against TenantLease.
Appears in 1 contract
Events of Default by Tenant. Any of the following occurrences or acts shall constitute an event of default under this Lease:
(1) If Tenant, at any time during the Term, shall (ia) fail to make any payment of the Rent or other sum herein required to be paid by Tenant fails within five (5) days after the same is due, (b) fail to pay cure, immediately after notice from Landlord, any Rent on the date due (a “Monetary Default”); hazardous condition which Tenant has created or (ii) Tenant fails to cure any other default, such as, but not limited to, the performance suffered in violation of any other covenant law or agreement of this Lease, (c) fail to observe or any rules and regulations attached to this Lease, perform or promulgated by Landlord under this Lease (a “Nonmonetary Default”); or (iii) Tenant fails to fulfill be in breach of any of the material terms or conditions covenants in respect of this Lease following the giving of applicable notice assignment, subletting and opportunity to cure or (iv) the appointment of a trustee or a receiver to take possession of all or substantially all of Tenant’s assets occurs, or if the attachment, execution or other judicial seizure of all or substantially all of Tenant’s assets located at the Premises, or of Tenant’s interest in this Lease, occursencumbrance set forth hereinabove, or (vd) fail to observe or perform any other provision hereof and cure same within thirty (30) days after Landlord shall have delivered to Tenant written notice of such failure, provided that if the failure is of such a nature as to be impossible to be cured by the end of such thirty-day cure period, the thirty-day period shall be extended for the number of days reasonably required to cure said failure provided that Tenant has commenced to cure the default during the aforesaid thirty-day notice period and diligently pursues a cure to its completion.
(2) To the full extent permissible under the Bankruptcy Reform Act of 1978, as amended, or any successor thereto, (a) if Tenant or any of its successors or assigns or surety of Tenant’s obligations should Guarantor, if any, shall file any voluntary a petition in bankruptcy, bankruptcy or for reorganization or arrangementfor an arrangement pursuant to any present or future federal or state bankruptcy law or under any similar federal or state law, or shall be adjudicated, bankrupt or insolvent or shall make an assignment for the benefit of its creditors or for similar relief shall admit in writing its inability to pay its debts generally as they become due, or if a petition or answer proposing the adjudication of Tenant or any Guarantor as a bankrupt or its reorganization under any present or future statute, federal or state bankruptcy law or regulation relating to relief of debtors, any similar federal or (vi) Tenant or any of its successors or assigns should be adjudicated bankrupt or have an involuntary petition in bankruptcy, reorganization or arrangement filed against it which is not dismissed within ninety (90) days, or (vii) Tenant shall permit, allow or suffer to exist any lien, judgment, writ, assessment, charge, attachment or execution upon Landlord’s or Tenant’s interest in this Lease or to the Premises, and/or the fixtures, and improvements and furnishings located thereon and fails within thirty (30) days either to discharge the same or provide a bond transferring same, then, Tenant state law shall be in default hereunder, or (viii) the leasehold estate granted to Tenant by this Lease is taken on execution or other process of law or equity filed in any action against Tenant.court and such petition or answer shall not be discharged or denied within thirty
Appears in 1 contract
Sources: Office Building Lease
Events of Default by Tenant. If The following events shall be deemed to be events of default by Tenant under this Lease:
(ia) Tenant fails shall fail to pay when or before due any sum of money becoming due to be paid to Landlord hereunder, whether such sum be any installment of the Rent on herein reserved, any other amount treated as Additional Rental hereunder, or any other payment or reimbursement to Landlord required herein whether or not treated as Additional Rental hereunder, and such failure shall continue for a period of ten (10) days after the date due on which Tenant receives written notice of such failure of payment (it being agreed that Landlord shall have no obligation to provide to Tenant written notice of a “Monetary Default”payment default hereunder more than 2 times in any calendar year); or or
(iib) Tenant fails shall fail to comply with any term, provision or covenant of this Lease other than by failing to pay when or before due any sum of money becoming due to be paid to Landlord hereunder, and shall not cure such failure within thirty (30) days (forthwith, if the default involves a hazardous condition) after written notice thereof to Tenant; provided however, if any such default is of a nature that it can be cured and if Tenant in good faith commences to cure any other default, such asdefault within such thirty (30) day cure period, but due to the nature of such default it could not limited tobe cured within such cure period, no event of default shall be deemed to have occurred at the performance end of the cure period if Tenant is then diligently pursuing such cure to completion and completes such cure as promptly as reasonably possible under all the circumstances, but in any other covenant or agreement event within ninety (90) days following the expiration of such thirty (30) day cure period; or
(c) Tenant shall fail to vacate the Demised Premises immediately upon termination of this Lease, by lapse of time or any rules and regulations attached to this Leaseotherwise, or promulgated by Landlord under this Lease (a “Nonmonetary Default”); or (iii) Tenant fails to fulfill any of the material terms or conditions of this Lease following the giving of applicable notice and opportunity to cure or (iv) the appointment of a trustee or a receiver to take possession of all or substantially all upon termination of Tenant’s assets occurs, or if the attachment, right to possession only; or
(d) The leasehold interest of Tenant shall be levied upon under execution or other judicial seizure be attached by process of all law or substantially all Tenant shall fail to contest diligently the validity of any lien or claimed lien and give sufficient security to Landlord to insure payment thereof or shall fail to satisfy any judgment rendered thereon and have the same released, if such default shall continue for thirty (30) days after written notice thereof to Tenant’s assets located at the Premises, or of Tenant’s interest in this Lease, occurs, or ; or
(ve) Tenant or any of shall become insolvent, admit in writing its successors or assigns or surety of Tenant’s obligations should inability to pay its debts generally as they become due, file any voluntary a petition in bankruptcybankruptcy or a petition to take advantage of any insolvency statute, reorganization or arrangement, or make an assignment for the benefit of creditors the creditors, make a transfer in fraud of creditors, apply for or consent to the appointment of a receiver for itself or for similar relief under the whole or for any present or future statute, law or regulation relating to relief substantial part of debtorsits property, or (vi) Tenant file a petition or any of its successors or assigns should be adjudicated bankrupt or have an involuntary petition in bankruptcy, answer seeking reorganization or arrangement under the federal bankruptcy laws as now in effect or hereafter amended, or any other applicable law or statute of the United States or any State thereof; or
(f) A court of competent jurisdiction shall enter an order, judgment or decree adjudicating Tenant a bankrupt, or appointing a receiver of Tenant, or for the whole or any substantial part of its property, without the consent of Tenant, or approving a petition filed against it which is Tenant seeking reorganization or arrangement of Tenant under the bankruptcy laws of the United States, as now in effect or hereafter amended, or any state thereof, and such order, judgement or decree shall not dismissed be vacated or set aside or stayed within ninety (90) days, or days from the date of entry thereof; or
(viig) Tenant shall permit, allow or suffer to exist In any lien, judgment, writ, assessment, charge, attachment or execution upon Landlord’s or Tenant’s interest in event whereby this Lease or the estate hereby granted or the unexpired balance of the term hereof would by operation of law or otherwise, devolve upon or pass to any person, firm or corporation other than Tenant, except as permitted in this Lease. Failure of Landlord to declare any default immediately upon occurrence thereof, or delay in taking any action in connection therewith, shall not waive such default, but Landlord shall have the Premisesright to declare any such default at any time and take such action as might be lawful or authorized hereunder, in law and/or the fixtures, and improvements and furnishings located thereon and fails within thirty (30) days either to discharge the same or provide in equity. No waiver by Landlord of a bond transferring same, then, default by Tenant shall be implied and no express waiver by Landlord shall affect any default other than the default specified in default hereunder, or (viii) such waiver and that only for the leasehold estate granted to Tenant by this Lease is taken on execution or other process of law or equity in any action against Tenanttime and extension therein stated.
Appears in 1 contract
Sources: Lease (ASC Acquisition LLC)
Events of Default by Tenant. If (i) The occurrence of anyone or more of the following events shall constitute a material default of this Lease by Tenant:
13.2.1 The failure by Tenant fails to pay make any Rent on the date due (a “Monetary Default”); payment of rent or (ii) Tenant fails to cure any other defaultpayment required to be made by Tenant hereunder, as and when due, where such as, but not limited to, the performance of any other covenant failure shall continue for a period often (10) business days after a written notice thereof from Landlord to Tenant.
13.2.2 The failure by Tenant to observe or agreement of this Lease, or any rules and regulations attached to this Lease, or promulgated by Landlord under this Lease (a “Nonmonetary Default”); or (iii) Tenant fails to fulfill perform any of the material terms covenants, conditions or conditions provisions of this Lease following to be observed or performed by Tenant, other than as described in Section 13.2.1 hereof, where such failure shall continue for a period of thirty (30) days after written notice thereof from Landlord to Tenant; provided further, that if the giving nature of applicable notice Tenant’s default is such that more than thirty (30) days is reasonably required for its cure, then Tenant shall not be deemed to be in default if Tenant commences such cure within said thirty (30) day period and opportunity thereafter diligently prosecutes such cure to cure completion.
13.2.3 The making by Tenant of any general assignment for the benefit of creditors; the filing by or against Tenant of a petition to have Tenant adjudged a bankrupt or a petition for reorganization or arrangement under any law relating to bankruptcy (ivunless, in the case of a petition filed against Tenant, the same is dismissed within sixty (60) days); the appointment of a trustee or a receiver to take possession of all or substantially all of Tenant’s assets occurs, or if the attachment, execution or other judicial seizure of all or substantially all of Tenant’s assets located at the Premises, or of Tenant’s interest in this Lease, occurswhere possession is not restored to Tenant within sixty (60) days; or the attachment, execution or (v) Tenant or any other judicial seizure of its successors or assigns or surety substantially all of Tenant’s obligations should file any voluntary petition in bankruptcy, reorganization assets located at the Premises or arrangement, or an assignment for the benefit of creditors or for similar relief under any present or future statute, law or regulation relating to relief of debtors, or (vi) Tenant or any of its successors or assigns should be adjudicated bankrupt or have an involuntary petition in bankruptcy, reorganization or arrangement filed against it which is not dismissed within ninety (90) days, or (vii) Tenant shall permit, allow or suffer to exist any lien, judgment, writ, assessment, charge, attachment or execution upon Landlord’s or Tenant’s interest in this Lease, where such seizure is not discharged within sixty (60) days.
13.2.4 Notices given pursuant to this Section 13.2 shall specify the alleged default and the applicable Lease provisions and shall demand that Tenant perform the provisions of this Lease or to pay the rent that is in arrears, as the case may be, within the applicable period of time or vacate the Premises, and/or the fixtures, and improvements and furnishings located thereon and fails within thirty (30) days either to discharge the same or provide a bond transferring same, then, Tenant . No such notice shall be in default hereunder, deemed a forfeiture or (viii) the leasehold estate granted to Tenant by a termination of this Lease is taken on execution or other process of law or equity unless Landlord so elects in any action against Tenantthe notice.
Appears in 1 contract
Events of Default by Tenant. If (i) Each of the following occurrences shall constitute an Event of Default by Tenant fails under this Lease:
i. Tenant’s failure to pay when due the Rent, including Base Rent and any Rent on the date due (a “Monetary Default”); Additional Rent, or (ii) Tenant fails ▇▇▇▇▇▇’s failure to cure timely perform any other monetary obligation hereunder within five calendar days of Landlord’s notice of default, such as, but not limited to, ;
ii. Tenant vacates or abandons the performance Premises or ceases doing business therein for a period of any other covenant or agreement of this Lease, or any rules and regulations attached to this Lease, or promulgated by Landlord under this Lease ten (a “Nonmonetary Default”); or (10) consecutive days;
iii) Tenant fails to fulfill any of the material terms or conditions of this Lease following the giving of applicable notice and opportunity to cure or (iv) the . The appointment of a trustee or a receiver to take possession of for all or substantially all of Tenant’s assets occurs, or if the attachment, execution or other judicial seizure of all or substantially all of Tenant’s assets located at the Premises, or of Tenant’s interest in this Lease, occurs, or (v) property;
iv. The voluntary filing by Tenant or any guarantor of its successors or assigns or surety of Tenant’s obligations should file any voluntary petition in bankruptcybankruptcy or other similar petition under State law, reorganization or arrangement, or an assignment for the benefit filing of creditors or for similar relief under any present or future statute, law or regulation relating to relief of debtors, or (vi) answer by Tenant or any guarantor admitting to insolvency or to an inability to pay its debts as they beco me due, or the filing of its successors or assigns should be adjudicated bankrupt or have an any involuntary petition in bankruptcy, reorganization against Tenant or arrangement filed against it which any guarantor that is not dismissed within ninety one hundred twenty (90120) days, ;
v. The dissolution or (liquidation of Tenant;
vi. Any assignment or sublease of ▇▇▇▇▇▇’s interest hereunder in violation of this Lease;
vii) . The breach by Tenant shall permit, allow or suffer to exist of any lien, judgment, writ, assessment, charge, attachment or execution upon Landlord’s or of its represe ntations and warranties set forth in this Lease;
viii. Tenant’s interest in failure to keep and perform any other non-monetary obligations set forthin this Lease {or to the PremisesRules and Regulations) within thirty (30) days; however, and/or that if the fixtures, and improvements and furnishings located thereon and fails nature of Tenant’s obligation is such that more than thirty (30) days are required for cure then Tenant will not be in default if Tenant commences the cure within thirty (30) days either and thereafter diligently proceed s with it to discharge completion; and, provided however, that in any emergency situation, the same or provide a bond transferring same, then, Tenant thirty (30) day time frame shall be reduced to fifteen (15) days unless the nature of the emergency requires faster action, in default hereunderwhich case the time period shall be determined by the specific set of circumstances;
ix. Tenant rejects this Lease in any bankruptcy, insolvency, reorganization, or (viii) arrangement proceed ings under the leasehold estate granted to Tenant by this Lease is taken on execution Bankruptcy Code or other process of law or equity in any action against Tenantstate insolvency laws .
Appears in 1 contract
Events of Default by Tenant. If This Lease is made upon the condition that Tenant shall punctually and faithfully perform all of the covenants, conditions and agreements by it to be performed as in this Lease set forth. The following shall each be deemed to be an event of default (ieach of which is sometimes referred to as an “Event of Default” in this Lease):
(a) the failure by Tenant fails to pay any Basic Rent on or Additional Rent within ten (10) days after Landlord has delivered notice to Tenant that the date due same is due;
(a “Monetary Default”); b) Intentionally omitted;
(c) Intentionally omitted;
(d) the failure of Tenant to observe or (ii) Tenant fails to cure any other default, such as, but not limited to, the performance of any other covenant or agreement of this Lease, or any rules and regulations attached to this Lease, or promulgated by Landlord under this Lease (a “Nonmonetary Default”); or (iii) Tenant fails to fulfill perform any of the material covenants, terms or conditions set forth in Article 14 (relating to assignment and subletting) when such failure continues for a period of ten (10) days after Landlord has delivered notice to Tenant that the same is due;
(e) the failure of Tenant to observe or perform any of the other covenants, terms or conditions set forth in this Lease following the giving where said failure continues for a period of applicable thirty (30) days after notice thereof from Landlord to Tenant setting forth in reasonable detail such failure (unless such failure cannot reasonably be cured within thirty (30) days and opportunity Tenant shall have commenced to cure or said failure within thirty (iv30) days and continues to diligently pursue the curing of the same until completed;
(f) the appointment estate created in Tenant hereby is taken in execution or by other process of a trustee law, or all or a receiver to take possession substantial part of all or substantially all the assets of Tenant’s assets occurs, or if the attachment, execution or other judicial seizure of all or substantially all of Tenant’s assets located at the Premises, or of Tenant’s interest in this Lease, occurs, or (v) Tenant or any Tenant Guarantor is placed in the hands of its successors a liquidator, receiver or assigns trustee (and such receivership or surety trusteeship or liquidation continues for a period of Tenant’s obligations should file any voluntary petition in bankruptcy, reorganization or arrangementsixty (60) days), or Tenant or any such Guarantor makes an assignment for the benefit of creditors or for similar relief under any present or future statute, law or regulation relating to relief of debtorscreditors, or admits in writing that it cannot meet its obligations as they become due;
(vig) subject to Section 365 of the Bankruptcy Law, Tenant or any Tenant Guarantor is adjudicated a bankrupt, or Tenant or any such Guarantor institutes any proceedings under any federal or state insolvency or bankruptcy law as the same now exists or under an amendment thereof which may hereafter be enacted, or under any other act relating to the subject of bankruptcy wherein the Tenant or any such Guarantor seeks to be adjudicated a bankrupt, or to be discharged of its successors debts, or assigns to effect a plan of liquidation, composition or reorganization, or should any involuntary proceedings be adjudicated bankrupt or have an involuntary petition in bankruptcy, reorganization or arrangement filed against it which is Tenant or any such Guarantor under any such insolvency or bankruptcy law (and such proceeding not dismissed be removed within ninety (90) daysdays thereafter). If any insolvency proceedings, or (vii) Tenant shall permit, allow or suffer such as those referred to exist any lien, judgment, writ, assessment, charge, attachment or execution upon Landlord’s or Tenant’s interest in this Lease or to Section 15.01(g), are instituted against Tenant, the Premises, and/or the fixtures, and improvements and furnishings located thereon and fails within thirty (30) days either to discharge the same or provide a bond transferring same, then, Tenant Premises shall be in default hereunder, or (viii) the leasehold estate granted to Tenant by this Lease is taken on execution or other process of law or equity not become an asset in any action against Tenantsuch proceedings;
(h) Intentionally omitted; or
(i) Intentionally omitted.
Appears in 1 contract
Events of Default by Tenant. Each of the following shall be deemed an “Event of Default” under this Ground Lease:
(a) If (i) the Tenant fails to pay any shall default in payment of Rent or in the payment of other charges as such shall become due on the date due date(s) provided for in this Ground Lease, and if such default shall continue for a period of ten (a “Monetary Default”)10) days after receipt by Tenant of written notice of said nonpayment; or
(b) If Tenant shall default or (ii) Tenant fails to cure any other default, such as, but not limited to, fail in the performance of any other a covenant or agreement of on its part to be performed in this Ground Lease, and such default shall not have been cured for a period of ninety (90) days after receipt by Tenant of written notice of said default from Landlord; provided, however, that if such default or failure cannot, with due diligence, be cured within ninety (90) days, Tenant shall have an additional period (not to exceed one hundred eighty (180) days) as may be necessary to cure the same provided that Tenant continuously proceeds with due diligence to complete such cure (it being intended that at any time Tenant is not continuously proceeding with due diligence to complete such cure it shall be an immediate Event of Default);
(c) If Tenant has not Commenced Construction (as defined in the Redevelopment Agreement) of the DCFA Improvements on or before the Outside Commencement Date;
(d) If Tenant shall default under the Redevelopment Agreement or any rules other agreement with the City contemplated thereby, which default is not cured within any applicable cure periods; or
(e) If Tenant shall cease to be a not for profit “fair association” incorporated under Chapter 616, Florida Statutes for the sole purpose of conducting and regulations attached operating public fairs or expositions; or
(f) If the Tenant shall be adjudged to this Lease, or promulgated by Landlord under this Lease be insolvent; or
(a “Nonmonetary Default”); or (iiig) Tenant fails to fulfill any of the material terms or conditions of this Lease following the giving of applicable notice and opportunity to cure or (iv) the appointment of a trustee or If a receiver to take possession of all or substantially all of trustee shall be appointed for the aforesaid Tenant’s assets occurs, or if property and affairs; or
(h) If the attachment, execution or other judicial seizure of all or substantially all of Tenant’s assets located at the Premises, or of Tenant’s interest in this Lease, occurs, or (v) Tenant or any of its successors or assigns or surety of Tenant’s obligations should file any voluntary petition in bankruptcy, reorganization or arrangement, or shall make an assignment for the benefit of creditors or shall file a voluntary petition under the state or federal bankruptcy laws or be adjudicated a bankrupt or shall make application for the appointment of a receiver; or
(i) If the filing of a petition against Tenant seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief under any present or future statutefederal, state or other law or regulation relating to bankruptcy, insolvency or other relief of for debtors, or the appointment of any trustee, receiver or liquidator of Tenant, unless the petition shall be dismissed within sixty (vi60) days after the filing, but in any event prior to the entry of a final order, judgment or decree approving such petition; or
(j) If any execution or attachment shall be issued against the Tenant or any of its successors the Tenant’s property, whereby the Leased Premises or assigns should any building or buildings or any improvements thereon, including without limitation the Improvements, shall be adjudicated bankrupt taken or have an involuntary petition in bankruptcyoccupied or attempted to be taken or occupied by someone other than the Tenant, reorganization except as may be herein permitted and such adjudication, appointment, assignment, petition, execution or arrangement filed against it which is attachment shall not dismissed be set aside, vacated, discharged or bonded within ninety sixty (9060) daysdays after the issuance of same.
(k) If Tenant shall fail to (1) commence the repair and restoration required pursuant to Section 8.6 of this Ground Lease on or before the Outside Condemnation Repair Commencement Date, or (vii2) proceed diligently and continuously to complete the construction of such repair or restoration as required pursuant to Section 8.4 of this Ground Lease.
(l) If Tenant shall permit, allow fail to (1) commence the repair and restoration required pursuant to Section 8.4 of this Ground Lease on or suffer to exist any lien, judgment, writ, assessment, charge, attachment or execution upon Landlord’s or Tenant’s interest in this Lease or to before the Premises, and/or the fixtures, and improvements and furnishings located thereon and fails within thirty (30) days either to discharge the same or provide a bond transferring same, then, Tenant shall be in default hereunderOutside Casualty Repair Commencement Date, or (viii2) proceed diligently and continuously to complete the leasehold estate granted construction of such repair or restoration required pursuant to Tenant by Section 8.4(a) of this Lease is taken on execution or other process of law or equity in any action against TenantGround Lease.
Appears in 1 contract
Sources: Redevelopment Agreement
Events of Default by Tenant. If The following events are referred to, collectively, as “Events of Default” or, individually, as an “Event of Default”:
(ia) The vacation or abandonment of the Premises by Tenant fails (failure of Tenant to occupy the Premises for a period of ten (10) consecutive days while in monetary default under this Lease shall conclusively be deemed a vacation and abandonment of the Premises);
(b) Failure to pay any installment of Rent on or any other monies due and payable hereunder, said failure continuing for a period of three (3) business days after the date due same is due, provided that with respect to the first late payment in any twelve (a “Monetary Default”)12) month period, it shall not be an Event of Default unless such payment is not received within three (3) calendar days after written notice thereof by Landlord to Tenant; or (ii) provided further that in the event Tenant fails thereafter in the same twelve (12) month period to pay any Rent, then any late charge or Default Interest which were waived because of Tenant’s timely cure any other default, of its first Event of Default in such as, but not limited totwelve (12) month period shall be re-instated;
(c) A general assignment by Tenant for the benefit of creditors;
(d) The filing of a voluntary petition in bankruptcy by Tenant, the performance filing by Tenant of any other covenant a voluntary petition for an arrangement, the filing by or agreement against Tenant of this Leasea petition, voluntary or involuntary, for reorganization, or any rules and regulations attached to this Leasethe filing of an involuntary petition by the creditors of Tenant, said involuntary petition remaining undischarged for a period of sixty (60) days;
(e) Receivership, attachment, or promulgated by Landlord under this Lease (a “Nonmonetary Default”); or (iii) Tenant fails to fulfill any other judicial seizure of the material terms or conditions of this Lease following the giving of applicable notice and opportunity to cure or (iv) the appointment of a trustee or a receiver to take possession of all or substantially all of Tenant’s assets occurson the Premises, such attachment or other seizure remaining undismissed or undischarged for a period of sixty (60) days after the levy thereof,
(f) Death or disability of Tenant, if Tenant is a natural person, or the failure by Tenant to maintain its legal existence, if the attachmentTenant is a corporation, execution partnership, limited liability company, trust or other judicial seizure legal entity;
(g) Failure of all Tenant to execute and deliver to Landlord any reasonable estoppel certificate, subordination agreement, or substantially all lease amendment within the time periods and in the manner required by the Lease, and/or failure by Tenant to deliver to Landlord any financial statement within the time period and in the manner required the Lease;
(h) An assignment or sublease, or attempted assignment or sublease, of this Lease or the Premises by Tenant contrary to the provision of Article 10 of this Lease, unless such assignment or sublease is expressly conditioned upon Tenant having received Landlord’s consent thereto; [***] Denotes confidential information omitted and filed separately with the Securities and Exchange Commission pursuant to a request for confidential treatment.
(i) Failure in the performance of any of Tenant’s assets located at the Premisescovenants, agreements or obligations hereunder (except those failures specified as Events of Tenant’s interest Default in this Leasesubparagraphs (b), occurs, (d) or (ve) Tenant herein or any other subparagraphs of its successors or assigns or surety of this Article 25.01, which shall be governed by the notice and cure periods set forth in such other subparagraphs), which failure continues for thirty (30) days after written notice thereof from Landlord to Tenant’s obligations should file any voluntary petition , provided that, if Tenant has exercised reasonable diligence to cure such failure and such failure cannot be cured within such thirty (30) day period despite reasonable diligence, Tenant shall not be in bankruptcy, reorganization or arrangement, or an assignment for default under this subparagraph so long as Tenant thereafter diligently and continuously prosecutes the benefit of creditors or for similar relief under any present or future statute, law or regulation relating cure to relief of debtors, or (vi) Tenant or any of its successors or assigns should be adjudicated bankrupt or have an involuntary petition in bankruptcy, reorganization or arrangement filed against it which is not dismissed completion and actually completes such cure within ninety (90) daysdays after the giving of the aforesaid written notice;
(j) Chronic Default by Tenant in the payment of Rent, or (vii) any other periodic payments required to be paid by Tenant shall permitunder this Lease. “Chronic Default” means failure by Tenant to pay Rent, allow or suffer any other payments required to exist any lien, judgment, writ, assessment, charge, attachment or execution upon Landlord’s or Tenant’s interest in be paid by Tenant under this Lease or to the Premises, and/or the fixtures, and improvements and furnishings located thereon and fails within thirty three (303) days either to discharge the same after written notice thereof for any three (3) months (consecutive or provide a bond transferring same, then, Tenant shall be in default hereunder, or nonconsecutive) during any period of twelve (viii12) the leasehold estate granted to Tenant by this Lease is taken on execution or other process of law or equity in any action against Tenant.months;
Appears in 1 contract
Sources: Office Lease (Dendreon Corp)
Events of Default by Tenant. If The occurrence of any of the following shall constitute a material default and breach of this Lease by Tenant:
(iA) The failure by Tenant fails to pay any Base Rent on the date due (a “Monetary Default”); or (ii) Tenant fails to cure make any other default, such as, but not limited to, payment required to be made by Tenant hereunder as and when due.
(B) The abandonment of the performance Premises by Tenant or the vacation of the Premises by Tenant for fourteen (14) consecutive days (without the payment of Rent).
(C) The making by Tenant of any other covenant assignment of this Lease or agreement any sublease of all or part of the Premises, except as expressly permitted under Article XIV of this Lease, .
(D) The failure by Tenant to observe or perform any rules and regulations attached to this Lease, or promulgated by Landlord under this Lease (a “Nonmonetary Default”); or (iii) Tenant fails to fulfill any of the material terms or conditions other provision of this Lease following to be observed or performed by Tenant, other than those described in Sections 15.01(A), 15.01(B) or 15.01 (C) above, if such failure continues for ten (10) days after written notice thereof by Landlord to Tenant; provided, however, that if the giving nature of applicable the default is such that it cannot be cured within the ten (10) day period, no default shall exist if Tenant commences the curing of the default within the ten (10) day period and thereafter diligently prosecutes the same to completion. The ten (10) day notice described herein shall be in lieu of, and opportunity not in addition to, any notice required under Section 1161 of the California Civil Code of Procedure or any other law now or hereafter in effect requiring that notice of default be given prior to cure the commencement of an unlawful detainer or other legal proceeding.
(ivE) The making by Tenant or its Guarantor of any general assignment for the benefit of creditors, the filing by or against Tenant or its Guarantor of a petition under any federal or state bankruptcy or insolvency laws (unless, in the case of a petition filed against Tenant or its Guarantor the same is dismissed within thirty (30) days after filing); the appointment of a trustee or a receiver to take possession of all or substantially all of Tenant’s 's assets occursat the Premises or Tenant's interest in this Lease or the Premises, when possession is not restored to Tenant within Tenant Landlord -s- [ILLEGIBLE] -s- [ILLEGIBLE] thirty (30) days; or if the attachment, execution or other judicial seizure of all or substantially all of Tenant’s 's assets located at the Premises, or of Tenant’s interest in this Lease, occurs, or (v) Tenant or any of its successors or assigns or surety of Tenant’s obligations should file any voluntary petition in bankruptcy, reorganization or arrangement, or an assignment for the benefit of creditors or for similar relief under any present or future statute, law or regulation relating to relief of debtors, or (vi) Tenant or any of its successors or assigns should be adjudicated bankrupt or have an involuntary petition in bankruptcy, reorganization or arrangement filed against it which is not dismissed within ninety (90) days, or (vii) Tenant shall permit, allow or suffer to exist any lien, judgment, writ, assessment, charge, attachment or execution upon Landlord’s Premises or Tenant’s 's interest in this Lease or to the Premises, and/or the fixtures, and improvements and furnishings located thereon and fails if such seizure is not discharged within thirty (30) days either to discharge the same or provide a bond transferring same, then, Tenant shall be in default hereunderdays.
(F) Any material misrepresentation herein, or (viii) the leasehold estate granted to material misrepresentation or omission in any financial statements or other materials provided by Tenant by or any Guarantor in connection with negotiating or entering into this Lease is taken on execution or other process of law or equity in connection with any action against TenantTransfer under Section 14.01.
Appears in 1 contract
Sources: Retail Lease (Nara Bancorp Inc)
Events of Default by Tenant. If The occurrence of any one or more of the following events constitutes a default (i“Default”) by Tenant fails under this Lease:
a) Failure by Tenant to pay any Rent on installment of rent when the date same is due and the failure continues for five (a “Monetary Default”); or 5) days;
b) Failure by Tenant to pay, within ten (ii10) days after written notice from Landlord, any other sums due and payable from Tenant fails to Landlord under this lease.
c) Failure by Tenant to cure forthwith, promptly after receipt of notice from Landlord, any other default, such as, but not limited to, the performance hazardous condition which Tenant has created in violation of any other covenant law or agreement of this Lease;
d) Failure by Tenant to observe or perform any other covenant, term or condition of this Lease if such failure continues for thirty (30) days after written notice to Tenant by Landlord, unless the nonobservance of nonperformance is of a nature that it cannot be corrected in thirty days wand Tenant has commenced observance or performance and is pursuing it with diligence;
e) The levy upon under execution or the attachment by legal process or the leasehold interest of Tenant, or any rules and regulations attached the filing or creation of a lien in respect of such leasehold interest which Tenant does not discharge within thirty days;
f) Failure by Tenant to this Lease, observe or promulgated by Landlord under this Lease (a “Nonmonetary Default”); or (iii) Tenant fails to fulfill perform any of the material terms covenants in respect to assignment and subletting;
g) Tenant vacates or conditions of this Lease following abandons the giving of applicable notice and opportunity Leased Premises;
h) Tenant becomes insolvent or bankrupt or admits in writing his inability to cure pay his debts as they mature, or (iv) makes an assignment for the benefit or creditors, or applies for or consents to the appointment of a trustee or a receiver to take possession of all or substantially all of Tenant’s assets occurs, or if the attachment, execution or other judicial seizure of all or substantially all of Tenant’s assets located at the Premises, or of Tenant’s interest in this Lease, occurs, or (v) for Tenant or any the major part of his property;
i) A trustee or receiver is appointed for Tenant or for the major part of its successors or assigns or surety of Tenant’s obligations should file any voluntary petition in bankruptcy, reorganization or arrangement, or an assignment property and is not discharged within thirty days after such appointment;
j) Any proceedings for the benefit of creditors or for similar relief under any present bankruptcy law, or future statute, similar law or regulation relating to for relief of debtors, are instituted by or (vi) Tenant against Tenant, and, if instituted against Tenant, are allowed against him or any of its successors are consented to by him, or assigns should be adjudicated bankrupt or have an involuntary petition in bankruptcy, reorganization or arrangement filed against it which is are not dismissed within ninety (90) days, or (vii) Tenant shall permit, allow or suffer to exist any lien, judgment, writ, assessment, charge, attachment or execution upon Landlord’s or Tenant’s interest in this Lease or to the Premises, and/or the fixtures, and improvements and furnishings located thereon and fails within thirty (30) sixty days either to discharge the same or provide a bond transferring same, then, Tenant shall be in default hereunder, or (viii) the leasehold estate granted to Tenant by this Lease is taken on execution or other process of law or equity in any action against Tenantafter such institution.
Appears in 1 contract
Sources: Lease Agreement (Endocyte Inc)
Events of Default by Tenant. If The occurrence of any of the following shall constitute a material default and breach of this Lease by Tenant:
(iA) The failure by Tenant fails to pay any Base Rent on the date due (a “Monetary Default”); or (ii) Tenant fails to cure make any other default, such as, but not limited to, payment required to be made by Tenant hereunder as and when due.
(B) The abandonment of the performance Premises by Tenant or the vacation of the Premises by Tenant for fourteen (14) consecutive days (with or without the payment of Rent).
(C) The making by Tenant of any other covenant assignment of this Lease or agreement any sublease of all or part of the Premises, except as expressly permitted under Article XIV of this Lease, .
(D) The failure by Tenant to observe or perform any rules and regulations attached to this Lease, or promulgated by Landlord under this Lease (a “Nonmonetary Default”); or (iii) Tenant fails to fulfill any of the material terms or conditions other provision of this Lease following to be observed or performed by Tenant, other than those described in Sections 15.01(A), 15.01(B) or 15.01(C) above, if such failure continues for thirty (30) days after written notice thereof by Landlord to Tenant: provided, however, that if the giving nature of applicable the default is such that it cannot be cured within the thirty (30) day period, no default shall be deemed to exist if Tenant commences the curing of the default promptly within such thirty (30) day period and thereafter diligently prosecutes the same to completion and achieves the same within sixty (60) days after the occurrence of such default. The thirty (30) day notice described herein shall be in lieu of, and opportunity not in addition to, any notice required under Section 1161 of the California Code of Civil Procedure or any other law now or hereafter in effect requiring that notice of default be given prior to cure the commencement of an unlawful detainer or other legal proceeding.
(ivE) The making by Tenant of any general assignment for the benefit of creditors, the filing by or against Tenant or any one or more of the Guarantors, if any, of a petition under any federal or state bankruptcy or insolvency laws (unless, in the case of a petition filed against Tenant or any one or more of the Guarantors, if any, the same is dismissed within thirty (30) days after filing); the appointment of a trustee or a receiver to take possession of all or substantially all of Tenant’s 's assets occursat the Premises or Tenant's interest in this Lease or the Premises, or if when possession is not restored to Tenant within thirty (30) days; the attachment, execution or other judicial seizure of all or substantially all of Tenant’s 's assets located at the Premises, or of Tenant’s interest in this Lease, occurs, or (v) Tenant or any of its successors or assigns or surety of Tenant’s obligations should file any voluntary petition in bankruptcy, reorganization or arrangement, or an assignment for the benefit of creditors or for similar relief under any present or future statute, law or regulation relating to relief of debtors, or (vi) Tenant or any of its successors or assigns should be adjudicated bankrupt or have an involuntary petition in bankruptcy, reorganization or arrangement filed against it which is not dismissed within ninety (90) days, or (vii) Tenant shall permit, allow or suffer to exist any lien, judgment, writ, assessment, charge, attachment or execution upon Landlord’s Premises or Tenant’s 's interest in this Lease or to the Premises, and/or the fixtures, and improvements and furnishings located thereon and fails if such seizure is not discharged within thirty (30) days either to discharge days; or the same death or provide a bond transferring samethe dissolution of Tenant or any one or more of the Guarantors, then, Tenant shall be in default hereunderif any.
(F) Any material misrepresentation herein, or (viii) the leasehold estate granted to material misrepresentation or omission in any financial statements or other materials provided by Tenant by in connection with negotiating or entering into this Lease is taken on execution or other process of law or equity in connection with any action against TenantTransfer under Section 14.01.
Appears in 1 contract
Sources: Industrial Lease (Qep Co Inc)
Events of Default by Tenant. If (a) The occurrence of any of the following events shall be deemed to be an event of default by Tenant under this Lease:
(i) Tenant fails shall fail to pay when due hereunder any Rent on the date due (a “Monetary Default”)installment of rent or any other sum of money payable by Tenant to Landlord; or or
(ii) Tenant fails shall fail to cure comply with or observe any other defaultterm, such as, but not limited to, the performance of any other provision or covenant or agreement of this Lease, or any rules and regulations attached Tenant has not cured such failure (except for the failure to this Lease, or promulgated by Landlord under this Lease pay rent) within twenty (a “Nonmonetary Default”)20) days after the occurrence of such failure; or or
(iii) Tenant fails to fulfill any of the material terms or conditions of this Lease following the giving of applicable notice and opportunity to cure or (iv) the appointment of a trustee or a receiver to take possession of all or substantially all of Tenant’s assets occursshall become insolvent, or if the attachment, execution or other judicial seizure shall make a transfer in fraud of all or substantially all of Tenant’s assets located at the Premisescreditors, or of Tenant’s interest in this Lease, occurs, or (v) Tenant or any of its successors or assigns or surety of Tenant’s obligations should file any voluntary petition in bankruptcy, reorganization or arrangement, or shall make an assignment for the benefit of creditors creditors, or for similar relief Tenant shall admit in writing its inability to pay its debts as they become due, or Tenant shall file a petition under any present section or future statutechapter of the Bankruptcy Reform Act of 1978, as amended, or under any similar law or regulation relating to relief statute of debtorsthe United States or any State thereof, or (vi) Tenant or any of its successors or assigns should be adjudicated bankrupt or have an involuntary petition in bankruptcy, reorganization or arrangement filed against it which is not dismissed within ninety (90) days, or (vii) Tenant shall permit, allow or suffer to exist any lien, judgment, writ, assessment, charge, attachment or execution upon Landlord’s or Tenant’s interest in this Lease or to the Premises, and/or the fixtures, and improvements and furnishings located thereon and fails within thirty (30) days either to discharge the same or provide a bond transferring same, then, Tenant shall be adjudged bankrupt or insolvent in default hereunderproceedings filed against Tenant thereunder, or a petition or answer proposing the adjudication of Tenant as a bankrupt or its similar law shall be filed in any court and such petition or answer shall not be discharged within sixty (viii60) days after the filing thereof, or a receiver or trustee shall be appointed for all or substantially all of the assets of Tenant or of the Building or of any of Tenant's property located thereon; or
(iv) The leasehold estate granted hereunder shall be taken or attempted to Tenant be taken by this Lease is taken on execution or other process of law or equity in any action against Tenant; or
(v) Tenant shall abandon or vacate any substantial portion of the Building for a period of time in excess of five (5) days without written permission of Landlord; or
(vi) The liquidation, termination, dissolution, forfeiture of right to do business or death of Tenant or any Guarantor.
(b) If an event of default shall have occurred, Landlord shall have, in addition to such other rights or remedies as are contained within this Lease or at law or in equity, the right at its election, then or any time thereafter while such event of default shall continue, to pursue any one or more of the following remedies:
(i) Terminate this Lease by giving notice thereof to Tenant, in which event Tenant shall immediately surrender the Building to Landlord and if Tenant fails to do so, Landlord may without prejudice to any other remedy which it may have for possession or arrearages in rent, enter upon and take absolute possession of the Building. Tenant hereby agrees to pay to Landlord on demand the amount of all loss and damage which Landlord may suffer by reason of such termination, whether through inability to relet the Building on satisfactory terms or otherwise, including loss of rental for the remainder of the Lease Term and interest thereon at the Past Due Rate from the date of the default.
(ii) Enter upon and take absolute possession of the Building without terminating this Lease. Landlord may (but shall be under no obligation to) relet the Building or any part thereof for the account of Tenant, in the name of Tenant or Landlord or otherwise, without notice to Tenant, for such term or terms (which may be greater or less than the period which would otherwise have constituted the balance of the term of this Lease) and on such conditions (which may include concessions or free rent) and for such uses as Landlord in its absolute discretion may determine and Landlord may collect and receive any rents payable by reason of such reletting. Tenant covenants and agrees to pay Landlord on demand all reasonable expenses necessary to relet the Building which shall include the cost of renovating, repairing and altering the Building for a new tenant or tenants, advertisements and brokerage fees, and Tenant further covenants and agrees to pay Landlord on demand any deficiency that may arise by reason of such reletting together with interest on all sums due thereon at the Past Due Rate from the date of the default. Landlord shall not be responsible or liable for any failure to relet the Building or any part thereof or for any failure to collect any rent due upon any such reletting. No such re-entry or taking of possession of the Building by Landlord shall be construed as an election on Landlord's part to terminate this Lease unless a written notice of such termination is given to Tenant pursuant to subparagraph 17(b)(i) above.
(iii) Make such payments and/or take such action and do whatever Tenant is obligated to do under the terms of this Lease. Tenant covenants and agrees to reimburse Landlord on demand for any expenses which Landlord may incur in thus affecting compliance with Tenant's obligations under this Lease together with interest thereon at the Past Due Rate from the date paid by Landlord, and Tenant further agrees that Landlord shall not be liable for any damages resulting to Tenant from such action, whether caused by the negligence of Landlord or otherwise.
(iv) Collect, from time to time, by suit or otherwise, each installment of rent or other sum as it becomes due hereunder, or to enforce, from time to time, by suit or otherwise, any other term or provision hereof on the part of Tenant required to be kept or performed.
(v) Terminate this Lease by giving Tenant notice thereof, in which event Tenant shall pay to Landlord the sum of (1) all rent accrued hereunder through the date of termination, and (2) an amount equal to (A) the total rent that Tenant would have been required to pay for the remainder of the Lease Term discounted to present value at a rate of seven percent (7%) per annum, minus (B) the then present fair rental value of the Building for such period, similarly discounted at a rate of seven percent (7%) per annum, after deducting all anticipated costs of reletting and Landlord's expenses for keeping the Building in good order.
(c) In order to regain possession of the Building pursuant to this ▇▇▇▇▇▇▇▇▇ ▇▇, ▇▇▇▇▇▇▇▇ or its agent may, at the expense and liability of the Tenant, alter or change any or all locks or other security devices controlling access to the Building without posting or giving notice of any kind to Tenant. Landlord shall have no obligation to provide Tenant a key or grant Tenant access to the Building so long as Tenant is in default under this Lease. Landlord may, without notice, remove and either dispose of or store, at Tenant's expense, any property belonging to Tenant that remains in the Building after Landlord has regained possession thereof.
(d) No repossession or re-entering on the Building or any part thereof by Landlord and no reletting of the Building or any part thereof by Landlord shall terminate this Lease, unless a notice of such intention be given to Tenant.
(e) No right or remedy herein conferred upon or reserved to Landlord is intended to be exclusive of any other right or remedy, and each and every right and remedy shall be cumulative and in addition to any other right or remedy given hereunder or now or hereafter existing at law or in equity or by statute. In addition to other remedies provided in this Lease, Landlord shall be entitled, to the extent permitted by applicable law, to injunctive relief in case of the violation, or attempted or threatened violation, of any of the covenants, agreements, conditions or provisions of this Lease, or to a decree compelling performance of any of the other covenants, agreements, conditions or provisions of this Lease, or to any other remedy allowed to Landlord at law or in equity.
Appears in 1 contract
Events of Default by Tenant. If (i) Each of the following acts or omissions of Tenant fails or occurrences shall constitute an “Event of Default”:
15.1.1 Any failure or refusal by Tenant to timely pay any Rent on the date due (a “Monetary Default”); or (ii) Tenant fails to cure any other defaultpayments or charges required to be paid hereunder, such asor any portion thereof, but not limited to, within five (5) days following written notice that the performance of same is delinquent.
15.1.2 Any failure by Tenant to perform or observe any other covenant or agreement condition of this LeaseLease to be performed or observed by Tenant (other than those described in Section 15.1.1 above or Sections 15.1.3 or 15.1.4 below) if such failure continues for a period of thirty (30) days following written notice to Tenant of such failure; provided, however, that in the event Tenant’s failure to perform or observe any rules and regulations attached to this Lease, covenant or promulgated by Landlord under condition of this Lease to be performed or observed by Tenant cannot reasonably be cured within thirty (30) days following written notice to Tenant, Tenant shall not be in default if Tenant commences to cure same within ten (10) days following receipt of such written notice and thereafter diligently continues to prosecute the curing thereof to completion following such written notice.
15.1.3 The filing or execution or occurrence of any one of the following: (i) a “Nonmonetary Default”); petition in bankruptcy or other insolvency proceeding by or against Tenant, (ii) a petition or answer seeking relief under any provision of the Bankruptcy Act, (iii) Tenant fails to fulfill any of the material terms or conditions of this Lease following the giving of applicable notice and opportunity to cure or (iv) the appointment of a trustee or a receiver to take possession of all or substantially all of Tenant’s assets occurs, or if the attachment, execution or other judicial seizure of all or substantially all of Tenant’s assets located at the Premises, or of Tenant’s interest in this Lease, occurs, or (v) Tenant or any of its successors or assigns or surety of Tenant’s obligations should file any voluntary petition in bankruptcy, reorganization or arrangement, or an assignment for the benefit of creditors creditors, (iv) a petition or other proceeding by or against Tenant for similar relief under any present the appointment of a trustee, receiver or future statute, law or regulation relating to relief liquidator of debtors, or (vi) Tenant or any of its successors or assigns should be adjudicated bankrupt or have an involuntary petition in bankruptcy, reorganization or arrangement filed against it which is not dismissed within ninety (90) daysTenant’s property, or (viiv) a proceeding by any governmental authority for the dissolution or liquidation of Tenant or any other instance whereby Tenant or any general partner of Tenant shall permitcease doing business as a going concern; provided, allow however, in each of the foregoing subsections, such order, judgment or suffer decree (entered as a result of a petition or proceeding) shall remain undischarged or unstayed sixty (60) days after it is entered.
15.1.4 Any failure by Tenant to exist execute and deliver any lienstatement or document described in either Article 11 or Section 12.1 requested to be so executed and delivered by Landlord within the time periods specified therein applicable thereto, judgment, writ, assessment, charge, attachment or execution upon Landlord’s or where such failure continues for five (5) days after delivery of written notice of such failure by Landlord to Tenant’s interest .
15.1.5 The parties hereto acknowledge and agree that all of the notice periods provided in this Lease or to the Premises, and/or the fixturesSection 15.1 are in lieu of, and improvements and furnishings located thereon and fails within thirty (30) days either to discharge not in addition to, the same or provide a bond transferring same, then, Tenant shall be in default hereunder, or (viii) the leasehold estate granted to Tenant by this Lease is taken on execution or other process notice requirements of law or equity in any action against TenantApplicable Laws.
Appears in 1 contract
Sources: Lease Agreement (Equinix Inc)
Events of Default by Tenant. The occurrence of any of the following shall constitute a material default and breach of this Lease by Tenant (each, an “Event of Default”):
a. If (i) Tenant fails to pay the Base Rent or any Additional Rent on or make any other payment required to be made by Tenant under this Lease and the date Exhibits hereto as and when due and such failure continues for ten (a “Monetary Default”)10) days after written notice thereof is received by Tenant; or
b. If Tenant violates or fails to perform or otherwise breaks any covenant or agreement herein contained and does not cure said violation or failure within thirty (ii30) days after receipt of written notice or if said condition cannot reasonably be cured within such time period and Tenant commences the cure within thirty (30) days after receipt of written notice and diligently works to complete the cure; or
c. If Tenant fails to cure any provide estoppel certificates or other default, certificates as herein provided within thirty (30) days of receipt of written notice of such as, but not limited to, failure; or
d. If Tenant fails to vacate and surrender the performance Premises as required by this Lease upon the expiration of any other covenant the Term or agreement sooner termination of this Lease, or ; or
e. If Tenant submits to Landlord any rules and regulations attached materially false information on any document required to this Lease, or promulgated be given by Landlord under this Lease (a “Nonmonetary Default”)Tenant to Landlord; or (iii) or
f. If Tenant fails to fulfill any of the material terms or conditions of this Lease following the giving of applicable notice and opportunity to cure or (iv) the appointment of a trustee or a receiver to take possession of all or substantially all of Tenant’s assets occurs, or if the attachment, execution or other judicial seizure of all or substantially all of Tenant’s assets located at the Premises, or of Tenant’s interest in this Lease, occurs, or (v) Tenant or any of its successors or assigns or surety of Tenant’s obligations should file any voluntary petition in bankruptcy, reorganization or arrangement, or makes an assignment for the benefit of creditors creditors; or for similar relief under whenever Tenant seeks or consents to or acquiesces in the appointment of any present trustee, receiver or future statute, law or regulation relating to relief liquidator of debtors, or (vi) Tenant or of all or any substantial part of its successors properties; or assigns should be adjudicated bankrupt whenever a permanent or have an involuntary petition in bankruptcy, reorganization or arrangement filed against it which is not dismissed within ninety (90) days, or (vii) temporary receiver of Tenant shall permit, allow or suffer to exist any lien, judgment, writ, assessment, charge, attachment or execution upon Landlord’s or Tenant’s interest in this Lease or to for substantially all of the Premises, and/or the fixtures, and improvements and furnishings located thereon and fails within thirty (30) days either to discharge the same or provide a bond transferring same, then, assets of Tenant shall be in default hereunderappointed; or an order, judgment or (viii) decree shall be entered by any court of competent jurisdiction on the leasehold estate granted to Tenant by this Lease is taken on execution or other process application of law or equity in any action against Tenanta creditor.
Appears in 1 contract
Events of Default by Tenant. If It shall be an “Event of Default” under this Lease, if (i) Tenant fails to pay any Fixed Rent on the date due or additional rent for more than seven (a “Monetary Default”)7) days, after notice thereof specifying such failure and that such failure may be an Event of Default hereunder; or (ii) Tenant fails to perform its non-monetary obligations hereunder for more than thirty (30) days after notice thereof from Landlord, together with such additional time, if any, as is reasonably required to cure any other default, the default if the default is of such as, but a nature that it cannot limited to, the performance of any other covenant or agreement of this Lease, or any rules and regulations attached to this Lease, or promulgated by Landlord under this Lease reasonably be cured in thirty (a “Nonmonetary Default”)30) days; or (iii) Tenant fails to fulfill makes any of the material terms or conditions of this Lease following the giving of applicable notice and opportunity to cure or (iv) the appointment of a trustee or a receiver to take possession of all or substantially all of Tenant’s assets occurs, or if the attachment, execution or other judicial seizure of all or substantially all of Tenant’s assets located at the Premises, or of Tenant’s interest in this Lease, occurs, or (v) Tenant or any of its successors or assigns or surety of Tenant’s obligations should file any voluntary petition in bankruptcy, reorganization or arrangement, or an assignment for the benefit of creditors creditors, or for similar relief files a petition under any present bankruptcy or future statute, insolvency law or regulation relating to relief of debtors, or (vi) Tenant or any of its successors or assigns should be adjudicated bankrupt or have an involuntary and such petition in bankruptcy, reorganization or arrangement filed against it which is not dismissed within ninety one hundred fifty (90150) days, ; or (viiiv) Tenant shall permit, allow or suffer if a receiver becomes entitled to exist any lien, judgment, writ, assessment, charge, attachment or execution upon Landlord’s or Tenant’s interest in this Lease or leasehold hereunder and it is not returned to the Premises, and/or the fixtures, and improvements and furnishings located thereon and fails Tenant within thirty one hundred fifty (30150) days either to discharge the same or provide a bond transferring same, then, Tenant shall be in default hereunder, days; or (viiiv) the such leasehold estate granted to Tenant by this Lease is taken on execution or other process of law or equity in any action against Tenant.; then, and in any such cases, Landlord and the agents and servants of Landlord may, in addition to and not in derogation of any remedies for any preceding breach of covenant, immediately or at any time thereafter while such default continues and without further notice enter into and upon the Premises or any part thereof in the name of the whole or mail a notice of termination addressed to Tenant at the address for notices contained in this Lease and repossess the same as of Landlord’s former estate and expel Tenant and those claiming through or under Tenant and remove its and their effects without being deemed guilty of any manner of trespass and without prejudice to any remedies which might otherwise be used for arrears of rent or prior breach of covenant, and upon such entry or mailing as aforesaid, this Lease shall terminate. After any such termination, Tenant hereby waives all statutory rights of redemption, if any to the extent such rights may be lawfully waived, and Landlord, without notice to Tenant, may store Tenant’s effects and those of any person claiming through or under Tenant at the expense and risk of Tenant and, if Landlord so elects, may sell such effects at public auction or private sale and apply the net proceeds to the payment of all sums due to Landlord from Tenant, if any, and pay over the balance, if any, to Tenant, but only if Tenant fails to claim such effects within forty-five (45) days of the termination of the Lease. If Tenant shall at any time default in the performance of any obligation under this Lease which default shall remain uncured after the expiration of any applicable notice and cure periods therefore and Landlord does not have notice that Tenant is disputing such obligation in good faith, Landlord shall have the right, but shall not the obligation, to enter upon the Premises and to perform such
Appears in 1 contract
Sources: Lease Agreement (Sonus Networks Inc)
Events of Default by Tenant. If The happening of any one or more of the following listed events (ieach an "Event of Default") will constitute a breach of this lease by Tenant:
(a) The failure of Tenant fails to pay any Rent on the date due (a “Monetary Default”); rent or (ii) Tenant fails to cure any other default, such as, but not limited to, the performance sums of any other covenant or agreement money due hereunder within 5 days after notice; for purposes of this Lease, or any rules and regulations attached to this Lease, or promulgated statutory notice given by Landlord to Tenant in accordance with applicable law, including, without limitation, any statutory 5-day notice, will suffice for the notice referred to above in this Subparagraph (a) (with the understanding that Landlord is not required to give more than three (3) notices under this paragraph in any Lease Year);
(a “Nonmonetary Default”); or (iiib) Tenant fails to fulfill any The taking of the material terms or conditions of this Lease following the giving of applicable notice and opportunity to cure or (iv) the appointment of a trustee or a receiver to take possession of all or substantially all of Tenant’s assets occurs, or if the attachment, execution or other judicial seizure of all or substantially all of Tenant’s assets located at the Premises, or of Tenant’s interest in this Lease, occurs, or (v) Tenant or any of its successors or assigns or surety of Tenant’s obligations should file any voluntary petition in bankruptcy, reorganization or arrangement, or an assignment for the benefit of creditors or for similar relief under any present or future statute, law or regulation relating to relief of debtors, or (vi) Tenant or any of its successors or assigns should be adjudicated bankrupt or have an involuntary petition in bankruptcy, reorganization or arrangement filed against it which is not dismissed within ninety (90) days, or (vii) Tenant shall permit, allow or suffer to exist any lien, judgment, writ, assessment, charge, attachment or execution upon Landlord’s or Tenant’s interest in this Lease or to the Premises, and/or the fixtures, and improvements and furnishings located thereon and fails within thirty (30) days either to discharge the same or provide a bond transferring same, then, Tenant shall be in default hereunder, or (viii) the leasehold estate granted to Tenant by this Lease is taken on execution or other process of law or equity in any action against Tenant;
(c) The failure of Tenant to accept the Premises, to promptly move into, to take possession of, and to operate its business on the Premises when the Premises are substantially complete, or if Tenant ceases to do business in, abandons or vacates any substantial portion of the Premises;
(d) Tenant becoming insolvent or unable to pay its debts as they become due, or Tenant's notification to Landlord that it anticipates either condition;
(e) Tenant taking any action to, or notifying Landlord that Tenant intends to, file a petition under the Bankruptcy Code (Title 11 of the United States Code) as amended, or any similar law or statute of the United States, or any state; or, the filing of a petition against Tenant under any such statute or law, or, any other creditor of Tenant notifying Landlord that it knows such a petition will be filed and such petition is not dismissed within thirty (30) days after the filing thereof; or Tenant's notification to Landlord that it expects such a petition to be filed;
(f) The appointment of a receiver or trustee for Tenant's leasehold interest in the Premises or for all or a substantial part of the assets of Tenant;
(g) Breach of any of the provisions of Paragraph 15 (Assignment and Subletting); or
(h) The failure of Tenant to comply with any other provision of this Lease or any other agreement between Landlord and Tenant (including the Work Letter; all of which terms, provisions, and covenants will be deemed material) within 15 days after notice if such failure consists of something other than a failure to pay money (unless the default involves a hazardous condition, which must be cured forthwith), but if such failure cannot be cured within such 15-day period and does not involve a hazardous condition, and if Tenant commences to cure the same within such 15-day period and continues to use diligent efforts to cure such failure, then such 15-day grace period will be extended for an additional 15 days, such that the maximum grace period is 45 days; for purposes of this Lease, any statutory notice given by Landlord to Tenant in accordance with applicable law will suffice for the notice referred to above in this Subparagraph.
Appears in 1 contract
Events of Default by Tenant. If The occurrence of any one of the following shall constitute an Event of Default by Tenant:
(ia) any installment of Base Rent or any other sums required to be paid by Tenant fails to pay hereunder, or any Rent part thereof shall at any time be in arrears and unpaid for ten (10) days after written notice that the same is past due, or
(b) there is any default or breach on the date due (a “Monetary Default”); part of the Tenant in the observance or (ii) Tenant fails to cure any other default, such as, but not limited to, the performance of any other covenant or agreement of this Lease, or any rules and regulations attached to this Lease, or promulgated by Landlord under this Lease (a “Nonmonetary Default”); or (iii) Tenant fails to fulfill any of the material terms other covenants, agreements or conditions of this Lease following on the giving part of applicable Tenant to be kept and performed and said default or breach shall continue for a period of thirty (30) days from notice thereof from Landlord to Tenant, unless such default cannot reasonably be cured within said thirty (30) days, and opportunity in such case, Tenant shall have commenced to cure said default within said thirty (30) days and thereafter continue diligently to pursue to completion the curing of same, or
(c) a writ of execution or (iv) attachment is levied on or against the appointment of a trustee or a receiver to take possession of all or substantially all property of Tenant’s assets occurs, or if the attachment, execution or other judicial seizure of all or substantially all of Tenant’s assets located at the Premises, or of Tenant’s interest in this Lease, occurs, or or
(vd) Tenant or any of its successors or assigns or surety of Tenant’s obligations should file any voluntary petition in bankruptcy, reorganization or arrangement, or makes an assignment for the benefit of creditors creditors, or for similar relief files a voluntary petition under any present state or future statute, law federal bankruptcy or regulation relating to relief of debtorsinsolvency law, or (vi) Tenant or any of its successors or assigns should be adjudicated bankrupt or have an involuntary petition in bankruptcy, reorganization alleging an act of bankruptcy or arrangement insolvency is filed against it which Tenant under any state or federal bankruptcy or insolvency law and is not dismissed within ninety (90) days, or (vii) Tenant shall permit, allow or suffer to exist any lien, judgment, writ, assessment, charge, attachment or execution upon Landlord’s or Tenant’s interest in this Lease or to the Premises, and/or the fixtures, and improvements and furnishings located thereon and fails within thirty (30) days either to discharge days, or a petition is filed by or against Tenant under the same reorganization provisions of the United States Bankruptcy Code or provide under the provision of law of like import, or a bond transferring samepetition is filed by Tenant under the arrangement provisions of the United States Bankruptcy Code or similar law, thenor a receiver of Tenant, or of or for the property of Tenant shall be in default hereunderappointed, or (viii) the leasehold estate granted Tenant admits it is insolvent or is not able to Tenant by this Lease is taken on execution or other process of law or equity in any action against Tenantpay its debts as they mature.
Appears in 1 contract
Events of Default by Tenant. If In addition to any events of default set forth in the Lease, and to the extent the Lease does not impose a shorter cure period, Tenant shall be in default (i“Default”) Tenant fails under this Agreement upon the occurrence of any of the following events or the existence of any of the following conditions:
(a) Tenant’s failure to pay any Rent on or before the date when such payment is due and payable, and such payment remains outstanding for ten (a “Monetary Default”)10) days after Tenant’s receipt of written notice of such failure from Sublessor; provided, however, if Sublessor shall have sent three (3) such notices of late payment to Tenant during any consecutive twelve (12)-month period, then Tenant shall thereafter be in Default if Tenant fails to make any such payment within ten (10) days after such payment is due and payable without the necessity of Sublessor giving Tenant further written notice thereof.
(b) Tenant’s failure to observe or perform any of its non-monetary obligations, covenants, or agreements under this Agreement other than those specifically referenced in this Section 11.1, and such failure is not cured by Tenant within thirty (30) days following Tenant’s receipt of written notice of such failure from Sublessor; provided, however, if the nature of Tenant’s failure to observe or perform any of such non-monetary obligations, covenants, or agreements is such that it cannot reasonably be cured within thirty (30) days, then Tenant shall not be in Default if Tenant promptly commences and diligently performs such curative measures until completion.
(c) The commencement of any proceeding, or Tenant’s consent to any arrangement, agreement, or understanding, that would have the effect of or result in (i) Tenant’s estate created under this Agreement being attached, levied, or taken on execution or by other process of Law; (ii) Tenant fails being judicially declared bankrupt or insolvent according to cure any other default, such as, but not limited to, the performance of any other covenant or agreement of this Lease, or any rules and regulations attached to this Lease, or promulgated by Landlord under this Lease (a “Nonmonetary Default”)applicable Law; or (iii) Tenant fails to fulfill any an assignment being made of Tenant’s property for the material terms or conditions benefit of this Lease following the giving of applicable notice and opportunity to cure or creditors; (iv) the appointment of a trustee receiver, guardian, conservator, bankruptcy trustee, or a receiver other similar officer being appointed to take possession charge of all or substantially all any substantial part of Tenant’s assets occurs, or if the attachment, execution or other judicial seizure property by a court of all or substantially all of Tenant’s assets located at the Premises, or of Tenant’s interest in this Lease, occurs, competent jurisdiction; or (v) Tenant being reorganized or liquidated under any provision of the federal bankruptcy code, as may be amended, or any of its successors other similar state or assigns or surety of Tenant’s obligations should file any voluntary petition in federal bankruptcy, reorganization or arrangementinsolvency, or an assignment for debtor’s relief law in effect as of the benefit of creditors Execution Date or for similar relief under any present or future statuteenacted hereafter; provided, law or regulation relating to relief of debtorshowever, or (vi) Tenant or if any of its successors or assigns should the foregoing proceedings is initiated by a party other than Tenant, then Tenant shall not be adjudicated bankrupt or have an involuntary petition in bankruptcy, reorganization or arrangement filed against it which Default unless such proceeding is not dismissed within ninety (90) days, days after its commencement.
(d) Tenant’s entering into any agreement or (vii) Tenant shall permit, allow or suffer instrument purporting to exist any lien, judgment, writ, assessment, charge, attachment or execution upon Landlord’s or assign Tenant’s interest in under this Lease Agreement, or to sublease the whole or a portion of the Subleased Premises, and/or which does not comply with the fixturesterms and conditions of Section 10.1, Section 10.2, Section 10.3, and improvements and furnishings located thereon and fails within thirty (30) days either to discharge the same or provide a bond transferring same, then, Tenant shall be in default hereunder, or (viii) the leasehold estate granted to Tenant by this Lease is taken on execution or other process of law or equity in any action against TenantSection 10.4.
Appears in 1 contract
Events of Default by Tenant. If (i) Tenant fails to pay any Rent on the date due (a “Monetary Default”); or (ii) Tenant fails to cure any other default, such as, but not limited to, the performance The occurrence of any other covenant or agreement of this Lease, or any rules and regulations attached to this Lease, or promulgated by Landlord under this Lease (a “Nonmonetary Default”); or (iii) Tenant fails to fulfill any of the following shall constitute a material terms or conditions default and breach of this Lease following by Tenant:
(A) The failure by Tenant to pay Base Rent or make any other payment required to be made by Tenant hereunder as and when due.
(B) The abandonment of the giving Premises by Tenant or the vacation of applicable the Premises by Tenant for fourteen (14) consecutive days (without the payment of Rent).
(C) The failure by Tenant to observe or perform any other provision of this Lease to be observed or performed by Tenant, other than those described in Sections 15.01(A) and 15.01(B) above, if such failure continues for ten (10) days after written notice thereof by Landlord to Tenant; provided, however, that if the nature of the default is such that it cannot be cured within the ten (10) day period, no default shall exist if Tenant commences the curing of the default within the ten (10) day period and opportunity thereafter diligently prosecutes the same to cure completion. The ten (10) day notice described herein shall be in lieu of, and not in addition to, any notice required under law now or hereafter in effect requiring that notice of default be given prior to the commencement of an unlawful detainer or other legal proceeding.
(ivD) The making by Tenant or its Guarantor of any general assignment for the benefit of creditors, the filing by or against Tenant or its Guarantor of a petition under any federal or state bankruptcy or insolvency laws (unless, in the case of a petition filed against Tenant or its Guarantor the same is dismissed within thirty (30) days after filing); the appointment of a trustee or a receiver to take possession of all or substantially all of Tenant’s assets occursat the Premises or Tenant’s interest in this Lease or the Premises, when possession is not restored to Tenant within thirty (30) days; or if the attachment, execution or other judicial seizure of all or substantially all of Tenant’s assets located at the Premises, or of Tenant’s interest in this Lease, occurs, or (v) Tenant or any of its successors or assigns or surety of Tenant’s obligations should file any voluntary petition in bankruptcy, reorganization or arrangement, or an assignment for the benefit of creditors or for similar relief under any present or future statute, law or regulation relating to relief of debtors, or (vi) Tenant or any of its successors or assigns should be adjudicated bankrupt or have an involuntary petition in bankruptcy, reorganization or arrangement filed against it which is not dismissed within ninety (90) days, or (vii) Tenant shall permit, allow or suffer to exist any lien, judgment, writ, assessment, charge, attachment or execution upon Landlord’s Premises or Tenant’s interest in this Lease or to the Premises, and/or the fixtures, and improvements and furnishings located thereon and fails if such seizure is not discharged within thirty (30) days either to discharge the same or provide a bond transferring same, then, Tenant shall be in default hereunderdays.
(E) Any material misrepresentation herein, or (viii) the leasehold estate granted to material misrepresentation or omission in any financial statements or other materials provided by Tenant by or any Guarantor in connection with negotiating or entering into this Lease is taken on execution or other process of law or equity in connection with any action against TenantTransfer under Section 14.01.
Appears in 1 contract
Events of Default by Tenant. If The occurrence of any of the following shall constitute a material default and breach of this Lease by Tenant:
(iA) The failure by Tenant fails to pay any Base Rent on the date due (a “Monetary Default”); or (ii) Tenant fails to cure make any other default, such as, but not limited to, payment required to be made by Tenant hereunder as and when due.
(B) The abandonment of the performance Premises by Tenant or the vacation of the Premises by Tenant for fourteen (14) consecutive days (with or without the payment of Rent).
(C) The making by Tenant of any other covenant assignment of this Lease or agreement any sublease of all or part of the Premises, except as expressly permitted under Article XIV of this Lease, .
(D) The failure by Tenant to observe or perform any rules and regulations attached to this Lease, or promulgated by Landlord under this Lease (a “Nonmonetary Default”); or (iii) Tenant fails to fulfill any of the material terms or conditions other provision of this Lease following to be observed or performed by Tenant, other than those described in Sections 15.01(A), 15.01(B) or 15.01 (C) above, if such failure continues for fifteen (15) days after written notice thereof by Landlord to Tenant; provided, however, that if the giving nature of applicable the default is such that it cannot be cured within the fifteen (15) day period, no default shall exist if Tenant commences the curing of the default within the fifteen (15) day period and thereafter diligently prosecutes the same to completion. The fifteen (15) day notice described herein shall be in lieu of, and opportunity not in addition to, any notice required under Section 1161 of the California Civil Code of Procedure or any other law now or hereafter in effect requiring that notice of default be given prior to cure the commencement of an unlawful detainer or other legal proceeding.
(ivE) The making by Tenant or its Guarantor of any general assignment for the benefit of creditors, the filing by or against Tenant or its Guarantor of a petition under any federal or state bankruptcy or insolvency laws (unless, in the case of a petition filed against Tenant or its Guarantor the same is dismissed within thirty (30) days after filing); the appointment of a trustee or a receiver to take possession of all or substantially all of Tenant’s 's assets occurs, or if the attachment, execution or other judicial seizure of all or substantially all of Tenant’s assets located at the Premises, or of Tenant’s interest in this Lease, occurs, or (v) Tenant or any of its successors or assigns or surety of Tenant’s obligations should file any voluntary petition in bankruptcy, reorganization or arrangement, or an assignment for the benefit of creditors or for similar relief under any present or future statute, law or regulation relating to relief of debtors, or (vi) Tenant or any of its successors or assigns should be adjudicated bankrupt or have an involuntary petition in bankruptcy, reorganization or arrangement filed against it which is not dismissed within ninety (90) days, or (vii) Tenant shall permit, allow or suffer to exist any lien, judgment, writ, assessment, charge, attachment or execution upon Landlord’s Premises or Tenant’s 's interest in this Lease or to the Premises, and/or the fixtures, and improvements and furnishings located thereon and fails within thirty (30) days either to discharge the same or provide a bond transferring same, then, Tenant shall be in default hereunder, or (viii) the leasehold estate granted when possession is not restored to Tenant by this Lease is taken on execution or other process of law or equity in any action against Tenant.within thirty
Appears in 1 contract
Sources: Office Lease (Deja Foods Inc)
Events of Default by Tenant. If The occurrence of any of the following shall constitute a material default and breach of this Lease by Tenant:
(iA) The failure by Tenant fails to pay any Base Rent on the date due (a “Monetary Default”); or (ii) Tenant fails to cure make any other default, such as, but not limited to, payment required to be made by Tenant hereunder as and when due.
(B) The abandonment of the performance Premises by Tenant or the vacation of the Premises by Tenant for fourteen (14) consecutive days (with or without the payment of Rent).
(C) The making by Tenant of any other covenant assignment of this Lease or agreement any sublease of all or part of the Premises, except as expressly permitted under Article XIV of this Lease, .
(D) The failure by Tenant to observe or perform any rules and regulations attached to this Lease, or promulgated by Landlord under this Lease (a “Nonmonetary Default”); or (iii) Tenant fails to fulfill any of the material terms or conditions other provision of this Lease following to be observed or performed by Tenant, other than those described in Sections 15.01(A), 15.01(B) or 15.01(C) above, if such failure continues for ten (10) days after written notice thereof by Landlord to Tenant; provided, however, that if the giving nature of applicable notice the default is such that it cannot be cured within the ten (10) day period, no default shall exist if Tenant commences the curing of the default within the ten (10) day period and opportunity thereafter diligently prosecutes the same to cure completion.
(E) The making by Tenant or its Guarantor of any general assignment for the benefit of creditors, the filing by or against Tenant or its Guarantor of a petition under any federal or slate bankruptcy or insolvency laws (ivunless, in the case of a petition filed against Tenant or its Guarantor the same is dismissed within thirty (30) days after filing); the appointment of a trustee or a receiver to take possession of all or substantially all of Tenant’s assets occursat the Premises or Tenant’s interest in this Lease or the Premises, when possession is not restored to Tenant within thirty (30) days; or if the attachment, execution or other judicial seizure of all or substantially all of Tenant’s assets located at the Premises, or of Tenant’s interest in this Lease, occurs, or (v) Tenant or any of its successors or assigns or surety of Tenant’s obligations should file any voluntary petition in bankruptcy, reorganization or arrangement, or an assignment for the benefit of creditors or for similar relief under any present or future statute, law or regulation relating to relief of debtors, or (vi) Tenant or any of its successors or assigns should be adjudicated bankrupt or have an involuntary petition in bankruptcy, reorganization or arrangement filed against it which is not dismissed within ninety (90) days, or (vii) Tenant shall permit, allow or suffer to exist any lien, judgment, writ, assessment, charge, attachment or execution upon Landlord’s Premises or Tenant’s interest in this Lease or to the Premises, and/or the fixtures, and improvements and furnishings located thereon and fails if such seizure is not discharged within thirty (30) days either to discharge the same or provide a bond transferring same, then, Tenant shall be in default hereunderdays.
(F) Any material misrepresentation herein, or (viii) the leasehold estate granted to material misrepresentation or omission in any financial statements or other materials provided by Tenant by or any Guarantor in connection with negotiating or entering into this Lease is taken on execution or other process of law or equity in connection with any action against TenantTransfer under Section 14.01.
Appears in 1 contract
Sources: Office Lease (RigNet, Inc.)
Events of Default by Tenant. If The occurrence of any of the following shall constitute an “Event of Default” by Tenant:
(iA) The failure by Tenant fails to pay Base Rent, Rent Adjustments, additional rent or make any Rent on other payment required to be made by Tenant hereunder within five (5) days following the date when the same is due and owing; provided however, that Landlord shall give Tenant written notice of a monetary default two (2) times in each calendar year, and no Event of Default shall exist if Tenant pays such amount within five (5) days following such notice.
(B) Failure by Tenant to timely execute, acknowledge and deliver forthwith, a “Monetary Default”); subordination and attornment agreement as required by Article XVII hereof or an estoppel certificate as required by Section 20.01 hereof within five (ii5) days following written notice to Tenant fails that Tenant’s ten (10) day period to cure any other default, such as, but not limited to, the performance deliver an estoppel certificate pursuant to Section 20.01 has expired.
(C) The making by Tenant of any other covenant assignment of this Lease or agreement any sublease of all or part of the Premises, except as expressly permitted under Article XIV of this Lease.
(D) Failure by Tenant to obtain a release or discharge of or bond over any lien placed upon the Premises in violation of Section 9.03 hereof;
(E) The making by Tenant of any general assignment for the benefit of creditors, the filing by or against Tenant of a petition under any rules and regulations attached to this Leasefederal or state bankruptcy or insolvency laws (unless, or promulgated by Landlord under this Lease in the case of a petition filed against Tenant the same is dismissed within thirty (a “Nonmonetary Default”30) days after filing); or (iii) Tenant fails to fulfill any of the material terms or conditions of this Lease following the giving of applicable notice and opportunity to cure or (iv) the appointment of a trustee or a receiver to take possession of all or substantially all of Tenant’s assets occursat the Premises or Tenant’s interest in this Lease or the Premises, when possession is not restored to Tenant within thirty (30) days; or if the attachment, execution or other judicial seizure of all or substantially all of Tenant’s assets located at the Premises, or of Tenant’s interest in this Lease, occurs, or (v) Tenant or any of its successors or assigns or surety of Tenant’s obligations should file any voluntary petition in bankruptcy, reorganization or arrangement, or an assignment for the benefit of creditors or for similar relief under any present or future statute, law or regulation relating to relief of debtors, or (vi) Tenant or any of its successors or assigns should be adjudicated bankrupt or have an involuntary petition in bankruptcy, reorganization or arrangement filed against it which is not dismissed within ninety (90) days, or (vii) Tenant shall permit, allow or suffer to exist any lien, judgment, writ, assessment, charge, attachment or execution upon Landlord’s Premises or Tenant’s interest in this Lease or to the Premises, and/or the fixtures, and improvements and furnishings located thereon and fails if such seizure is not discharged within thirty (30) days.
(F) The failure by Tenant to observe or perform any other provision of this Lease to be observed or performed by Tenant, other than those described in Subsections 15.01(A), (B), (C), (D) or (E) above, if such failure continues for thirty (30) days either after written notice thereof by Landlord to discharge Tenant; provided, however, that if the nature of the default is such that it cannot be cured within the thirty (30) day period, no default shall exist if Tenant commences the curing of the default within the thirty (30) day period and thereafter diligently prosecutes the same or provide a bond transferring same, then, Tenant to completion provided that the cure is completed within ninety (90) days after the aforementioned written notice. The thirty (30) day notice described herein shall be in lieu of, and not in addition to, any notice required under law now or hereafter in effect requiring that notice of default hereunder, or (viii) be given prior to the leasehold estate granted to Tenant by this Lease is taken on execution commencement of an unlawful detainer or other process of law or equity in any action against Tenantlegal proceeding.
Appears in 1 contract
Sources: Office Lease (McData Corp)
Events of Default by Tenant. If All covenants and agreements to be kept or performed by Tenant under this Lease shall be performed by Tenant at Tenant's sole cost and expense and without any reduction of Rent, except as expressly set forth herein. The occurrence of any of the following shall constitute a “Default” under this Lease by Tenant:
(i) Any failure by Tenant fails to pay any Rent or any other charge required to be paid under this Lease or any part thereof as and when such amount is due; provided, however, that Tenant shall be entitled to a notice of non-payment and a five (5) day cure period on the date due first (a “Monetary Default”); 1st) occasion during the first thirty-six (36) months of the Term, and on the first (1st) occasion during each successive thirty-six (36) month period, in which any installment of Rent or other such charge is not timely paid, provided that on the second (2nd) failure or any subsequent failure during any such thirty-six (36) month period, no such notice shall be required.
(ii) Tenant fails to cure any other defaultabandons the Premises, such as, but not limited to, the performance of any other covenant or agreement of this Lease, or any rules and regulations attached to this Lease, or promulgated by Landlord under this Lease (a “Nonmonetary Default”); or as described in California Civil Code Section 1951.3.
(iii) Tenant fails timely to fulfill deliver any of subordination document, estoppel certificate, financial statement or other document requested by Landlord within the material terms or conditions of this Lease following the giving of applicable notice and opportunity to cure or time period specified in Paragraph 24.
(iv) Tenant violates the appointment restrictions on liens set forth in Paragraph 22 or on Transfer set forth in Paragraph 23.
(v) Tenant ceases doing business as a going concern; makes an assignment for the benefit of creditors; is adjudicated an insolvent, files a petition (or files an answer admitting the material allegations of a trustee petition) seeking relief under any state or a receiver to take possession of federal bankruptcy or other statute, law or regulation affecting creditors’ rights; all or substantially all of Tenant’s assets occursare subject to judicial seizure or attachment and are not released within thirty (30) days, or if Tenant consents to or acquiesces in the attachmentappointment of a trustee, execution receiver or other judicial seizure of liquidator for Tenant or for all or substantially all any substantial part of Tenant’s assets located at the Premises, or of Tenant’s interest in this Lease, occurs, or assets.
(vvi) Tenant or fails, within sixty (60) days after the commencement of any of its successors or assigns or surety of Tenant’s obligations should file any voluntary petition in bankruptcy, reorganization or arrangement, or an assignment for the benefit of creditors or for similar proceedings against Tenant seeking relief under any present state or future federal bankruptcy or other statute, law or regulation relating affecting creditors’ rights, to relief of debtorshave such proceedings dismissed, or Tenant fails, within six (vi30) days after an appointment, without Tenant’s consent or acquiescence, of any trustee, receiver or liquidator for Tenant or for all or any substantial part of its successors or assigns should be adjudicated bankrupt or Tenant’s assets, to have an involuntary petition in bankruptcy, reorganization or arrangement filed against it which is not dismissed within ninety (90) days, or such appointment vacated.
(vii) Tenant fails to deliver or replenish the Security Deposit as required under Paragraph 4.
(viii) Tenant shall permitfail to observe or perform any other provision, allow covenant or suffer to exist any lien, judgment, writ, assessment, charge, attachment or execution upon Landlord’s or Tenant’s interest in condition of this Lease to be observed or to the Premises, and/or the fixtures, and improvements and furnishings located thereon and fails within performed by Tenant where such failure continues for thirty (30) days either after written notice thereof from Landlord to discharge Tenant; provided, however, that any such notice shall be in lieu of, and not in addition to, any notice required under California Code of Civil Procedure Section 1161 or any similar or successor law; and provided further that if the nature of such default is such that the same or provide cannot reasonably be cured within a bond transferring same, thenthirty (30)-day period, Tenant shall not be deemed to be in default hereunder, or (viii) if it diligently commences such cure within such period and thereafter diligently proceeds to rectify and cure the leasehold estate granted to Tenant by this Lease is taken on execution or other process of law or equity in any action against Tenantdefault as soon as possible.
Appears in 1 contract
Sources: Lease Agreement (Neophotonics Corp)
Events of Default by Tenant. Any one or more of the following shall constitute an event of default by Tenant hereunder (“Event of Default”):
(a) If (i) Tenant shall fail to pay when due any payment due under the Transaction Documents and Tenant fails to pay such amount within five (5) days after Landlord gives Tenant notice of such default;
(b) If Tenant shall fail to perform, observe or comply with any Rent on of the date due terms, covenants, conditions or provisions contained in any of the Transaction Documents beyond the time periods for curing the same as set forth therein;
(a “Monetary Default”)c) If any representation or warranty of Tenant in any of the Transaction Documents was false in any material respect when made, or if Tenant makes or renders any statement or account that is false in any material respect;
(i) If the Property is abandoned; or (ii) Tenant fails subject to cure any other default, such as, but not limited to, the performance of any other covenant or agreement force majeure as provided in Section 6.06 of this Lease, or any rules and regulations attached to this Lease, or promulgated by Landlord under this Lease (a “Nonmonetary Default”); or (iii) Tenant fails to fulfill any of the material terms or conditions of this Lease following the giving of applicable notice and opportunity to cure or (iv) the appointment of a trustee or a receiver to take possession of all or substantially all of Tenant’s assets occursAgreement, or if the attachmentTenant Improvement Work is not carried on diligently;
(e) If Tenant shall agree to, or execute, any assignment, pledge, hypothecation or encumbrance of any of the Transaction Documents or any rights thereunder or of any Disbursement hereunder without Landlord’s prior consent; or
(f) If a writ of execution or other judicial seizure of attachment or any similar process shall be issued or levied against all or substantially all any part of Tenant’s assets located at the Premises, or of Tenant’s interest in this Leasethe Property or any judgment involving monetary damages shall be entered against Tenant which shall become a lien on the Land or the Improvements or any portion thereof or interest therein and such execution, occursattachment or similar process or judgment is not released, bonded, satisfied, vacated or stayed within sixty (v60) days after its entry or levy. With respect to any Event of Default described in Subsections (b) and (d)(ii) above, if such Event of Default does not involve the payment of any monetary sum, is not willful or intentional, does not place any rights or property of Landlord in immediate jeopardy, does not stop or threaten to stop the Tenant or Improvement Work, and is within the reasonable power of Tenant to cure, Landlord shall not exercise any of its successors or assigns or surety remedies pursuant to Section 5.02 below unless Landlord shall have first given Tenant written notice of Tenant’s obligations should file any voluntary petition in bankruptcy, reorganization or arrangementsuch Event of Default and such Event of Default shall not have been cured within five (5) days after such notice, or an assignment within such additional time as may be reasonably necessary for the benefit Tenant to cure such Event of creditors or for similar relief under any present or future statute, law or regulation relating to relief Default (but in no event more than 30 days) provided Tenant is diligently pursuing a cure of debtors, or (vi) Tenant or any such Event of its successors or assigns should be adjudicated bankrupt or have an involuntary petition in bankruptcy, reorganization or arrangement filed against it which is not dismissed within ninety (90) days, or (vii) Tenant shall permit, allow or suffer to exist any lien, judgment, writ, assessment, charge, attachment or execution upon Landlord’s or Tenant’s interest in this Lease or to the Premises, and/or the fixtures, and improvements and furnishings located thereon and fails within thirty (30) days either to discharge the same or provide a bond transferring same, then, Tenant shall be in default hereunder, or (viii) the leasehold estate granted to Tenant by this Lease is taken on execution or other process of law or equity in any action against TenantDefault.
Appears in 1 contract
Sources: Lease Agreement
Events of Default by Tenant. If All covenants and agreements to be kept or performed by Tenant under this Lease shall be performed by Tenant at Tenant’s sole cost and expense and without any reduction of Rent. The occurrence of any of the following shall constitute a default of this Lease by Tenant (i) each, an “Event of Default”):
21.1.1 Any failure by Tenant fails to pay any Rent on the date due (a “Monetary Default”); or (ii) Tenant fails to cure any other default, such as, but not limited to, the performance of any other covenant or agreement of charge required to be paid under this Lease, or any rules part thereof, within three (3) business days following Tenant’s receipt of Landlord’s written notice that the same is due; provided, however, Landlord shall not be obligated to provide written notice of monetary default more than one (1) time in any twelve-month period, and regulations attached to this Lease, or promulgated by Landlord under this Lease each subsequent monetary default shall be an Event of Default if not received within three (a “Nonmonetary Default”)3) business days after the same is due; or (iii) Tenant fails to fulfill any of the material terms or conditions of this Lease following the giving of applicable notice and opportunity to cure or (iv) the or
21.1.2 The appointment of a trustee or a receiver to take possession of all or substantially all of Tenant’s the assets occurs, or if the attachment, execution or other judicial seizure of all or substantially all of Tenant’s assets located at the Premises, or of Tenant’s interest in this Lease, occurs, or (v) Tenant or any of its successors or assigns or surety of Tenant’s obligations should file any voluntary petition in bankruptcy, reorganization or arrangement, or an assignment by Tenant for the benefit of creditors creditors, or for similar relief any action taken or suffered by Tenant under any present insolvency, bankruptcy, reorganization, moratorium or future other debtor relief act or statute, law whether now existing or regulation relating hereafter amended or enacted; or
21.1.3 Any other failure by Tenant to relief observe or perform any other provision, covenant or condition of debtors, or (vi) Tenant or any of its successors or assigns should be adjudicated bankrupt or have an involuntary petition in bankruptcy, reorganization or arrangement filed against it which is not dismissed within ninety (90) days, or (vii) Tenant shall permit, allow or suffer to exist any lien, judgment, writ, assessment, charge, attachment or execution upon Landlord’s or Tenant’s interest in this Lease to be observed or performed by Tenant where such failure continues for thirty (30) days after written notice thereof from Landlord to Tenant; provided, however, if such default is of the Premises, and/or the fixtures, and improvements and furnishings located thereon and fails type which cannot reasonably be cured within thirty (30) days either to discharge the same or provide a bond transferring samedays, then, then Tenant shall be in default hereunder, or have such longer time as is reasonably necessary provided Tenant commences to cure within ten (viii10) days after receipt of written notice from Landlord and diligently prosecutes such cure to completion; or
21.1.4 Abandonment of the leasehold estate granted to Tenant Premises by this Lease is taken on execution or other process of law or equity in any action against Tenant.
Appears in 1 contract
Sources: Office Lease (Twilio Inc)
Events of Default by Tenant. If The occurrence of any of the following events shall constitute an “Event of Default” by Tenant under this Lease:
(i) Tenant fails to pay any part of the Rent, including Base Rent and/or Additional Rent required by this Lease to be paid to Landlord at the time or in the manner provided herein, and such failure is not cured within three (3) days following ▇▇▇▇▇▇▇▇’s written notice to Tenant of such failure of payment; however, an Event of Default shall occur hereunder without any obligation of Landlord to give any notice if Tenant fails to pay Base Rent or other amounts owing hereunder when due and, during the 12 month interval preceding such failure, Landlord has given Tenant written notice of failure to pay Base Rent or other amounts owing hereunder on the date due (a “Monetary Default”)two or more occasions; or or
(ii) Tenant fails to cure any other default, such as, but not limited to, breaches the performance provisions of any other covenant or agreement Paragraph 8 of this Lease, or any rules and regulations attached to this Lease, or promulgated by Landlord under this Lease (a “Nonmonetary Default”); or or
(iii) Tenant fails shall fail to fulfill discharge any lien placed upon the Premises in violation of the material terms or conditions Paragraph 5(C) of this Lease following within the giving of applicable notice and opportunity to cure or time period specified therein; or
(iv) the appointment of a trustee or a receiver to take possession of all or substantially all of Tenant’s assets occurs, or if the attachment, execution or other judicial seizure of all or substantially all of Tenant’s assets located at the Premises, or of Tenant’s interest in this Lease, occurs, or (v) Tenant or any of its successors or assigns or surety guarantor of Tenant’s obligations should file any voluntary petition under this Lease shall (a) become insolvent; (b) admit in bankruptcy, reorganization or arrangement, or an writing its inability to pay its debts; (c) make a general assignment for the benefit of creditors creditors; (d) commence any case, proceeding or other action seeking to have an order for similar relief entered on its behalf as a debtor or to adjudicate it a bankrupt or insolvent, or seeking reorganization, arrangement, adjustment, liquidation, dissolution or composition of it or its debts under any present or future statute, law or regulation relating to bankruptcy, insolvency, reorganization or relief of debtors, or seeking appointment of a receiver, trustee, custodian or other similar official for it or for all or of any substantial part of its property; or
(viv) Any case, proceeding or other action against Tenant or any guarantor of the Tenant’s obligations under this Lease shall be commenced seeking (a) to have an order for relief entered against it as debtor or to adjudicate it a bankrupt or insolvent; (b) reorganization, arrangement, adjustment, liquidation, dissolution or composition of it or its debts under any law relating to bankruptcy, insolvency, reorganization of relief of debtors; (c) appointment of a receiver, trustee, custodian or other similar official for it or for all or any substantial part of its successors property, and such case, proceeding or assigns should be adjudicated bankrupt or have other action results in either the entry of an involuntary petition in bankruptcy, reorganization or arrangement filed order for relief against it which is not fully stayed within seven (7) days after the entry thereof, or shall remain not dismissed for a period of forty-five (45) days; or
(vi) Tenant breaches any other covenant, term or provision on Tenant’s part to be performed hereunder which is not specifically addressed in the preceding subparagraphs and such default continues for a period of ten (10) days following written notice thereof from Landlord to Tenant; provided, however, that in the event of a breach which reasonably cannot be discontinued or otherwise cured within ninety ten (9010) days, or (vii) Tenant shall permit, allow or suffer have up to exist any lien, judgment, writ, assessment, charge, attachment or execution upon Landlord’s or Tenant’s interest in this Lease or to the Premises, and/or the fixtures, and improvements and furnishings located thereon and fails within thirty (30) days either to discharge do so provided that Tenant commences such discontinuance or cure within such ten (10) day period and thereafter diligently pursues the same same; or
(vii) Tenant abandons the Premises and/or otherwise is not continuously open and operating its business in the Premises, except for any interruption necessary for repair, maintenance or provide a bond transferring samerestoration after material damage or casualty to the Premises or permitted Alternations. Subject to the foregoing, thenthe Premises shall be deemed abandoned and Tenant shall be deemed not in requisite continuous open operation if Tenant fails continuously to be open and operate its business in the Premises for more than ten (10) consecutive days. For purposes of this provision, Tenant shall be deemed not to be in default hereunderopen and in continuous operation on any day Tenant fails, or (viiii) to be and remain open for business in usual and ordinary substance and hours of operation, and/or (ii) to maintain adequate personnel at the leasehold estate granted Premises for the usual and ordinary operation of its business. Any other manner of operation shall not be deemed to constitute requisite continuous operation, including without limitation brief and/or intermittent operation and/or operation without bona fide intention to be and remain in requisite continuous operation. Further without limiting the foregoing, Tenant by this Lease is taken on execution or other process of law or equity shall not have any right to “go dark,” and shall be required at all times to be open and operating its business in any action against Tenantthe Premises.
Appears in 1 contract
Events of Default by Tenant. If The occurrence of any of the following shall constitute an "Event of Default" and breach of this Lease by Tenant:
(iA) The failure or refusal by Tenant fails to pay any installment of the Base Rent on the date due (a “Monetary Default”); hereby reserved or (ii) Tenant fails to cure other sum of money payable hereunder or under any other default, agreement between Landlord and Tenant when due and such as, but not limited to, failure or refusal shall continue for five (5) days after written notice from Landlord.
(B) The abandonment of the performance Premises by Tenant or the vacation of the Premises by Tenant for thirty (30) consecutive days (without the payment of Rent).
(C) The failure by Tenant to observe or perform any other covenant or agreement of this Lease, or any rules and regulations attached to this Lease, or promulgated by Landlord under this Lease (a “Nonmonetary Default”); or (iii) Tenant fails to fulfill any of the material terms or conditions provision of this Lease following to be observed or performed by Tenant, other than those described in Sections 16.01(A) and 16.01(B) above, if such failure continues for ten (10) days after written notice thereof by Landlord to Tenant; provided, however, that if the giving nature of applicable the default is such that it cannot be cured within the ten (10) day period, no default shall exist if Tenant commences the curing of the default within the ten (10) day period and thereafter diligently prosecutes the same to completion. The ten (10) day notice described herein shall be in lieu of, and opportunity not in addition to, any notice required under any law now or hereafter in effect requiring that notice of default be given prior to cure the commencement of an unlawful detainer or other legal proceeding.
(ivD) The making by Tenant of any general assignment for the benefit of creditors, the filing by or against Tenant of a petition under any federal or state bankruptcy or insolvency laws (unless, in the case of a petition filed against Tenant, the same is dismissed within thirty (30) days after filing); the appointment of a trustee or a receiver to take possession of all or substantially all of Tenant’s 's assets occursat the Premises or Tenant's interest in this Lease or the Premises, when possession is not restored to Tenant within thirty (30) days; or if the attachment, execution or other judicial seizure of all or substantially all of Tenant’s 's assets located at the Premises, or of Tenant’s interest in this Lease, occurs, or (v) Tenant or any of its successors or assigns or surety of Tenant’s obligations should file any voluntary petition in bankruptcy, reorganization or arrangement, or an assignment for the benefit of creditors or for similar relief under any present or future statute, law or regulation relating to relief of debtors, or (vi) Tenant or any of its successors or assigns should be adjudicated bankrupt or have an involuntary petition in bankruptcy, reorganization or arrangement filed against it which is not dismissed within ninety (90) days, or (vii) Tenant shall permit, allow or suffer to exist any lien, judgment, writ, assessment, charge, attachment or execution upon Landlord’s Premises or Tenant’s 's interest in this Lease or to the Premises, and/or the fixtures, and improvements and furnishings located thereon and fails if such seizure is not discharged within thirty (30) days either to discharge the same or provide a bond transferring same, then, Tenant shall be in default hereunder, or (viii) the leasehold estate granted to Tenant by this Lease is taken on execution or other process of law or equity in any action against Tenantdays.
Appears in 1 contract
Events of Default by Tenant. If The occurrence of one or more of the following shall constitute an “Event of Default” under this Lease:
(i1) Tenant abandons or surrenders all or any part of the Premises prior to the expiration of the Term of the Lease;
(2) Tenant fails to pay any Rent on the date due or Additional Rent within ten (a “Monetary Default”); or 10) days after written notice from Landlord of delinquency;
(ii) Tenant fails to cure any other default, such as, but not limited to, the performance of any other covenant or agreement of this Lease, or any rules and regulations attached to this Lease, or promulgated by Landlord under this Lease (a “Nonmonetary Default”); or (iii3) Tenant fails to fulfill any of the material terms or conditions of this Lease following and the giving of applicable same is not cured within thirty (30) days after written notice and opportunity thereof from Landlord, unless the same cannot be cured within said thirty (30) day period, in which case Tenant shall have such additional time as is reasonably necessary to cure or such default, not to exceed ninety (iv90) days in any and all events, provided that Tenant commences such cure within said thirty (30) day period and thereafter diligently prosecutes the same to completion;
(4) The appointment of a trustee or a receiver to take possession of all or substantially all of Tenant’s assets occurs, or if the attachment, execution or other judicial seizure of all or substantially all of Tenant’s assets located at the Premises, or of Tenant’s interest in this Lease, occurs, or and in the case of an involuntary appointment only, the same is not dismissed within ninety (v90) days from said, appointment;
(5) Tenant or any of its successors or assigns or surety any guarantor of Tenant’s obligations this Lease (“Guarantor”) should file any voluntary petition in bankruptcy, reorganization or arrangement, or an assignment for the benefit of creditors or for similar relief under any present or future statute, law or regulation relating to relief of debtors, or ; or
(vi6) Tenant or any of its successors or assigns or any Guarantor should be adjudicated bankrupt or have an involuntary petition in bankruptcy, reorganization or arrangement filed against it which is and the same not be dismissed within ninety (90) days, or (vii) Tenant shall permit, allow or suffer to exist any lien, judgment, writ, assessment, charge, attachment or execution upon Landlord’s or Tenant’s interest in this Lease or to days of the Premises, and/or date of the fixtures, and improvements and furnishings located thereon and fails within thirty (30) days either to discharge the same or provide a bond transferring same, then, Tenant shall be in default hereunder, or (viii) the leasehold estate granted to Tenant by this Lease is taken on execution or other process of law or equity in any action against Tenantfiling thereof.
Appears in 1 contract
Events of Default by Tenant. Section 23.1. The following events shall be deemed to be events of default (each, an "Event of Default') by Tenant under this Lease:
(a) If (i) Tenant fails shall fail to pay any Rent on installment of the date due (a “Monetary Default”); or (ii) Tenant fails to cure any other default, such as, but not limited to, the performance of any other covenant or agreement of this Leaserent, or any rules other payment or reimbursement to Landlord required herein, and regulations attached shall not cure such failure to this Lease, or promulgated by Landlord under this Lease make payment within ten (10) days after written notice from landlord.
(b) If Tenant shall file a “Nonmonetary Default”); or (iii) Tenant fails to fulfill any of the material terms or conditions of this Lease following the giving of applicable notice and opportunity to cure or (iv) the appointment of a trustee or a receiver to take possession of all or substantially all of Tenant’s assets occurs, or if the attachment, execution or other judicial seizure of all or substantially all of Tenant’s assets located at the Premises, or of Tenant’s interest in this Lease, occurs, or (v) Tenant or any of its successors or assigns or surety of Tenant’s obligations should file any voluntary petition in bankruptcybankruptcy or shall be adjudicated a bankrupt or insolvent or, reorganization in any action or proceeding, if Tenant shall file any petition or answer seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution or an assignment for the benefit of creditors or for similar relief under any present or future statuteapplicable federal, law state or regulation relating to relief of debtorsother statute or law, or (vi) if Tenant shall seek or consent to or acquiesce in the appointment of any trustee, receiver or liquidator of Tenant or any of all or substantially all of its successors properties;
(c) If, within sixty (60) days after the commencement of any proceeding against Tenant seeking any reorganization, readjustment, liquidation, dissolution or assigns should be adjudicated bankrupt similar relief under any present or future federal bankruptcy act or any other present or future applicable federal, state or other statute or law, such proceeding shall not have an involuntary petition in bankruptcy, reorganization or arrangement filed against it which is not dismissed within ninety (90) daysbeen dismissed, or if, within sixty (vii60) days after the appointment, without consent or acquiescence of Tenant, of any trustee, receiver or liquidator of Tenant or of all or substantially all of its properties, such appointment shall not have been vacated or stayed on appeal or otherwise or if, within sixty (60) days after the expiration of any such stay, such appointment shall not have been vacated; If Tenant shall permitfail to comply with any term, allow provision, or suffer to exist any liencovenant of this Lease, judgment, writ, assessment, charge, attachment or execution upon Landlord’s or Tenant’s interest in this Lease or to other than the Premises, and/or the fixturespayment of rent and other charges, and improvements and furnishings located thereon and fails shall not cure such failure within thirty (30) days either after written notice thereof from Landlord, or if cure cannot be made within thirty (30) days, if Tenant shall fail to discharge begin curing such failure within the same or thirty (30) days and shall fail to pursue diligently the cure of such failure; and If Tenant fails to provide a bond transferring same, then, financial statement to Landlord as required by Section 3.6 or if Tenant's Liquidity ratio is less than 1.2:1 as reported on a quarterly basis or if Tenant shall be in default hereunder, or (viii) the leasehold estate granted fails to Tenant by this Lease is taken maintain a ratio of EBIDA to interest charges of 2.1 as reported on execution or other process of law or equity in any action against Tenanta yearly basis.
Appears in 1 contract
Sources: Master Lease (Microclock Inc)
Events of Default by Tenant. If The occurrence of any of the following shall constitute a material default and breach of this Lease by Tenant:
(iA) The failure by Tenant fails to pay any Base Rent on the date due (a “Monetary Default”); or (ii) Tenant fails to cure make any other default, such as, but not limited to, payment required to be made by Tenant hereunder as and when due.
(B) The abandonment of the performance Premises by Tenant or the vacation of the Premises by Tenant for fourteen (14) consecutive days (with or without the payment of Rent).
(C) The making by Tenant of any other covenant assignment of this Lease or agreement any sublease of all or part of the Premises, except as expressly permitted under Article XIV of this Lease, .
(D) The failure by Tenant to observe or perform any rules and regulations attached to this Lease, or promulgated by Landlord under this Lease (a “Nonmonetary Default”); or (iii) Tenant fails to fulfill any of the material terms or conditions other provision of this Lease following to be observed or performed by Tenant, other than those described in Sections 15.01(A), 15.01(B) or 15.01(C) above, if such failure continues for fifteen (15) days after written notice thereof by Landlord to Tenant; provided, however, that if the giving nature of applicable the default is such that it cannot be cured within the fifteen (15) day period, no default shall exist if Tenant commences the curing of the default within the fifteen (15) day period and thereafter diligently prosecutes the same to completion. The fifteen (15) day notice described herein shall be in lieu of, and opportunity not in addition to, any notice required under Section 1161 of the California Civil Code of Procedure or any other law now or hereafter in effect requiring that notice of default be given prior to cure the commencement of an unlawful detainer or other legal proceeding.
(ivE) The making by Tenant or its Guarantor of any general assignment for the benefit of creditors, the filing by or against Tenant or its Guarantor of a petition under any federal or state bankruptcy or insolvency laws (unless, in the case of a petition filed against Tenant the same is dismissed within sixty (60) days after filing); the appointment of a trustee or a receiver to take possession of all or substantially all of Tenant’s assets occursat the Premises or Tenant’s interest in this Lease or the Premises, when possession is not restored to Tenant within sixty (60) days; or if the attachment, execution or other judicial seizure of all or substantially all of Tenant’s assets located at the Premises, or of Tenant’s interest in this Lease, occurs, or (v) Tenant or any of its successors or assigns or surety of Tenant’s obligations should file any voluntary petition in bankruptcy, reorganization or arrangement, or an assignment for the benefit of creditors or for similar relief under any present or future statute, law or regulation relating to relief of debtors, or (vi) Tenant or any of its successors or assigns should be adjudicated bankrupt or have an involuntary petition in bankruptcy, reorganization or arrangement filed against it which is not dismissed within ninety (90) days, or (vii) Tenant shall permit, allow or suffer to exist any lien, judgment, writ, assessment, charge, attachment or execution upon Landlord’s Premises or Tenant’s interest in this Lease or to the Premises, and/or the fixtures, and improvements and furnishings located thereon and fails if such seizure is not discharged within thirty sixty (3060) days either to discharge the same or provide a bond transferring same, then, Tenant shall be in default hereunderdays.
(F) Any material misrepresentation herein, or (viii) the leasehold estate granted to material misrepresentation or omission in any financial statements or other materials provided by Tenant by or any Guarantor in connection with negotiating or entering into this Lease is taken on execution or other process of law or equity in connection with any action against TenantTransfer under Section 14.01.
Appears in 1 contract
Events of Default by Tenant. If The happening of anyone or more of the following listed events (i“Tenant Events of Default”) shall constitute a breach of this Lease by Tenant:
(a) The failure of Tenant fails to pay any Rent on the date due (a “Monetary Default”); rent or (ii) Tenant fails to cure any other default, sum of money when due and where such as, but not limited tofailure shall continue for a period of ten (10) days after Landlord has given Tenant written notice of such failure;
(b) Except for the payment of rent and other sums of money hereunder, the performance of any other covenant or agreement of this Lease, or any rules and regulations attached to this Lease, or promulgated by Landlord under this Lease (a “Nonmonetary Default”); or (iii) Tenant fails to fulfill any of the material terms or conditions of this Lease following the giving of applicable notice and opportunity to cure or (iv) the appointment of a trustee or a receiver to take possession of all or substantially all failure of Tenant’s assets occurs, or if the attachment, execution or other judicial seizure of all or substantially all of Tenant’s assets located at the Premises, or of Tenant’s interest in this Lease, occurs, or (v) Tenant or any of its successors or assigns or surety of Tenant’s obligations should file any voluntary petition in bankruptcy, reorganization or arrangement, or an assignment for the benefit of creditors or for similar relief under any present or future statute, law or regulation relating to relief of debtors, or (vi) Tenant or any of its successors or assigns should be adjudicated bankrupt or have an involuntary petition in bankruptcy, reorganization or arrangement filed against it which is not dismissed within ninety (90) days, or (vii) Tenant shall permit, allow or suffer to exist any lien, judgment, writ, assessment, charge, attachment or execution upon Landlord’s or Tenant’s interest in this Lease or to the Premises, and/or the fixtures, and improvements and furnishings located thereon and fails within thirty (30) days either after receipt of written notice from Landlord, to discharge the same or provide a bond transferring samecomply with any provision of this Lease; provided, thenhowever, if such failure to comply cannot be cured within such thirty (30) day period, Tenant shall not be in default hereunder, or so long as Tenant is diligently working towards remedying such failure;
(viiic) The taking of the leasehold estate granted to Tenant by this Lease is taken on execution or other process of law or equity in any action against Tenant;
(d) If the Tenant shall (i) apply for or consent to the appointment of a receiver, trustee or liquidator of the Tenant or of all or a substantial part of its assets, (ii) admit in writing its inability to pay its debts as they come due, {iii) make a general assignment for the benefit of creditors, (iv) file a petition or an answer seeking reorganization or arrangement with creditors or to take advantage of any insolvency law other than the Federal Bankruptcy Code, (v) file an answer admitting the material allegations of a petition filed against the Tenant in any reorganization or insolvency proceeding, other than a proceeding commenced pursuant to the Federal Bankruptcy Code, or if any order, judgment or decree shall be entered by any court of competent jurisdiction, except for a bankruptcy court or a federal court sitting as a bankruptcy court, adjudicating the Tenant insolvent, or approving a petition seeking reorganization of the Tenant, or appointing a receiver, trustee or liquidator of the Tenant or of all or a substantial part of its assets.
Appears in 1 contract
Sources: Assignment and Assumption of Lease (Prime Meridian Holding Co)
Events of Default by Tenant. If (a) The occurrence of any one or more of the following events shall constitute an "Event of Default" by Tenant:
(i) if Tenant fails shall default in the observance or performance of any covenants, provisions, warranty, condition or agreement herein and such default, in the case of any failure by Tenant to pay any Rent on the date due or other sum required to be paid hereunder (a “Monetary Default”"monetary" default), continues for five (5) days after written notice of failure to pay (provided, however, in no event shall Landlord be required to give Tenant notice and cure rights with respect to any monetary default more than two (2) times in any calendar year), or in the case of any non-monetary default, continues for thirty (30) days after receipt by Tenant of written notice thereof from Landlord (provided, however, in no event shall Landlord be required to give Tenant notice and cure rights with respect to any non-monetary default more than two (2) times in any calendar year), or, if the non-monetary default of Tenant is of a type which is not reasonably possible to cure within thirty (30) days, and if Tenant commences to cure said default within said thirty (30) day period and thereafter diligently prosecutes the curing of said default to completion, such thirty (30) day period shall be extended for so long as it shall require Tenant in the exercise of due diligence to cure said default, it being agreed that no such extension shall be for a period in excess of ninety (90) days; or or
(ii) if Tenant fails shall fail to cure any other defaulttake occupancy of the Premises and open for business within sixty (60) days following the Commencement Date, such as, but not limited to, subject to the performance of any other covenant or agreement terms and conditions of this Lease, or any rules and regulations attached to this Lease, or promulgated by Landlord under this Lease (a “Nonmonetary Default”); or or
(iii) if Tenant fails shall fail to fulfill any continuously use, occupy and operate pursuant to Section 9.2 above, and such failure shall continue for a period of the material terms or conditions of this Lease following the giving of applicable ten (10) consecutive days after notice from Landlord (except as otherwise expressly provided herein) (provided, however, in no event shall Landlord be required to give Tenant notice and opportunity cure rights with respect to cure or a failure to continuously operate more than two (2) times in any calendar year); or
(iv) the appointment doing or permitting to be done by Tenant of any act which creates a trustee mechanic's lien or related claim against any portion of the Project, the land or building of which the Premises are a receiver to take possession part and such lien or claim is not released or terminated or bonded over within thirty (30) days of all or substantially all of Tenant’s assets occurs, or if the attachment, execution or other judicial seizure of all or substantially all of Tenant’s assets located at the Premises, or of Tenant’s interest in this Lease, occurs, or Landlord's written demand; or
(v) the Lease is transferred to or devolves on, or the Leased Premises is occupied by, anyone other than Tenant except if consented to in writing by Landlord or expressly allowed by this Lease;
(vi) if Tenant or any of its successors or assigns or surety the guarantor(s) of Tenant’s obligations should this Lease shall file any a voluntary petition in bankruptcybankruptcy or insolvency, reorganization or commence a case under the Federal Bankruptcy Code, or shall be adjudicated a bankrupt or insolvent, or shall file any petition or answer seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief under the present or any future federal bankruptcy act or any other present or future applicable federal, state or other statute or law (foreign or domestic), or shall make an assignment for the benefit of creditors or for shall seek or consent or acquiesce in the appointment of any trustee, receiver or liquidator of Tenant or any guarantor or of all or any part of Tenant's or guarantor's personal property; or
(vi) if, within sixty (60) days after the commencement of any proceeding against Tenant or any guarantor, whether by the filing of a petition or otherwise, seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief under any present or future statutefederal bankruptcy act or any other present or future applicable federal, state or other statute or law (foreign or regulation relating to relief of debtorsdomestic), such proceeding shall not have been dismissed, or if, within sixty (vi60) days after the appointment of any trustee, receiver or liquidator of Tenant or any guarantor or of its successors all or assigns should be adjudicated bankrupt any part of Tenant's or guarantor's personal property, without the consent or acquiescence of Tenant or any guarantor, such appointment shall not have an involuntary petition in bankruptcy, reorganization been vacated or arrangement filed against it which is not dismissed within ninety (90) daysotherwise discharged, or (vii) if any execution or attachment shall be issued against Tenant shall permit, allow or suffer any guarantor or any of Tenant's or guarantor's personal property pursuant to exist any lien, judgment, writ, assessment, charge, attachment or execution upon Landlord’s or Tenant’s interest in this Lease or to which the Premises, and/or the fixturesor any part thereof, and improvements and furnishings located thereon and fails within thirty (30) days either to discharge the same or provide a bond transferring same, then, Tenant shall be in default hereunder, taken or (viii) the leasehold estate granted occupied or attempted to Tenant by this Lease is be taken on execution or other process of law or equity in any action against Tenantoccupied.
Appears in 1 contract
Sources: Lease Agreement (Mitesco, Inc.)
Events of Default by Tenant. If The occurrence of any of the following shall constitute a material default and breach of this Lease by Tenant (i) Tenant fails to pay any Rent on the date due (a “Monetary an Event of Default”); .
(A) The failure by Tenant to pay Base Rent or (ii) Tenant fails to cure make any other defaultpayment required to be made by Tenant hereunder as and when due; provided, however that Tenant shall have one five (5) day grace period in every calendar year in which to pay such as, but not limited to, Base Rent prior to the performance occurrence of an Event of Default.
(B) The failure by Tenant to observe or perform any other covenant or agreement of this Lease, or any rules and regulations attached to this Lease, or promulgated by Landlord under this Lease (a “Nonmonetary Default”); or (iii) Tenant fails to fulfill any of the material terms or conditions provision of this Lease following to be observed or performed by Tenant, other than those described in Sections 15.1(A) and 15.1(B) above, if such failure continues for thirty (30) days after written notice thereof by Landlord to Tenant; provided, however, that if the giving nature of applicable notice the default is such that it cannot be cured within the thirty (30) day period, no default shall exist if Tenant commences the curing of the default within the thirty (30) day period and opportunity thereafter diligently prosecutes the same to cure completion and completes the same within sixty (60) days.
(C) The making by Tenant of any general assignment for the benefit of creditors, the filing by or against Tenant of a petition under any federal or state bankruptcy or insolvency laws (ivunless, in the case of a petition filed against Tenant the same is dismissed within sixty (60) days after filing); the appointment of a trustee or a receiver to take possession of all or substantially all of Tenant’s assets occursat the Premises or Tenant’s interest in this Lease or the Premises, when possession is not restored to Tenant within sixty (60) days; or if the attachment, execution or other judicial seizure of all or substantially all of Tenant’s assets located at the Premises, or of Tenant’s interest in this Lease, occurs, or (v) Tenant or any of its successors or assigns or surety of Tenant’s obligations should file any voluntary petition in bankruptcy, reorganization or arrangement, or an assignment for the benefit of creditors or for similar relief under any present or future statute, law or regulation relating to relief of debtors, or (vi) Tenant or any of its successors or assigns should be adjudicated bankrupt or have an involuntary petition in bankruptcy, reorganization or arrangement filed against it which is not dismissed within ninety (90) days, or (vii) Tenant shall permit, allow or suffer to exist any lien, judgment, writ, assessment, charge, attachment or execution upon Landlord’s Premises or Tenant’s interest in this Lease or to the Premises, and/or the fixtures, and improvements and furnishings located thereon and fails if such seizure is not discharged within thirty sixty (3060) days either to discharge the same or provide a bond transferring same, then, Tenant shall be in default hereunderdays.
(D) Any material misrepresentation herein, or (viii) the leasehold estate granted to Tenant by this Lease is taken on execution material misrepresentation or omission in any financial statements or other process materials provided by Tenant or any Guarantor to Landlord. Time is of law or equity in any action against the essence with respect to Tenant’s compliance with this Section 15.1.
Appears in 1 contract
Sources: Office Lease (Splunk Inc)
Events of Default by Tenant. If The occurrence of any of the following shall constitute a material default and breach of this Lease by Tenant:
(iA) The failure by Tenant fails for a period of three (3) days after written notice from Landlord to pay Base Rent or make any Rent on the date other payment required to be made by Tenant hereunder as and when due (a “Monetary Default”provided that such 3 day written notice shall be in lieu of an not in addition to any legally required 3 day notice); .
(B) The abandonment of the Premises by Tenant or the vacation of the Premises by Tenant for fourteen (ii14) consecutive days.
(C) The making by Tenant fails to cure any other default, such as, but not limited to, the performance of any other covenant assignment of this Lease or agreement any sublease of all or part of the Premises, except as expressly permitted under Article XIV of this Lease, .
(D) The failure by Tenant to observe or perform any rules and regulations attached to this Lease, or promulgated by Landlord under this Lease (a “Nonmonetary Default”); or (iii) Tenant fails to fulfill any of the material terms or conditions other provision of this Lease following to be observed or performed by Tenant, other than those described in Sections 15.01(A), 15.01(B) or 15.01 (C) above, if such failure continues for fifteen (15) days after written notice thereof by Landlord to Tenant; provided, however, that if the giving nature of applicable notice the default is such that it cannot be cured within the fifteen (15) day period, no default shall exist if Tenant commences the curing of the default within the fifteen (15) day period and opportunity thereafter diligently prosecutes the same to cure completion.
(E) The making by Tenant or its Guarantor of any general assignment for the benefit of creditors, the filing by or against Tenant or its Guarantor of a petition under any federal or state bankruptcy or insolvency laws (ivunless, in the case of a petition filed against Tenant or its Guarantor the same is dismissed within thirty (30) days after filing); the appointment of a trustee or a receiver to take possession of all or substantially all of Tenant’s assets occurs, or if the attachment, execution or other judicial seizure of all or substantially all of Tenant’s assets located at the Premises, or of Tenant’s interest in this Lease, occurs, or (v) Tenant or any of its successors or assigns or surety of Tenant’s obligations should file any voluntary petition in bankruptcy, reorganization or arrangement, or an assignment for the benefit of creditors or for similar relief under any present or future statute, law or regulation relating to relief of debtors, or (vi) Tenant or any of its successors or assigns should be adjudicated bankrupt or have an involuntary petition in bankruptcy, reorganization or arrangement filed against it which is not dismissed within ninety (90) days, or (vii) Tenant shall permit, allow or suffer to exist any lien, judgment, writ, assessment, charge, attachment or execution upon Landlord’s Premises or Tenant’s interest in this Lease or to the Premises, and/or the fixtures, and improvements and furnishings located thereon and fails within thirty (30) days either to discharge the same or provide a bond transferring same, then, Tenant shall be in default hereunder, or (viii) the leasehold estate granted when possession is not restored to Tenant by this Lease is taken on execution or other process of law or equity in any action against Tenant.within thirty
Appears in 1 contract
Sources: Office Lease (Wilshire Bancorp Inc)
Events of Default by Tenant. If The occurrence of any of the following shall constitute a material default and breach of this Lease by Tenant:
(iA) The failure by Tenant fails to pay any Monthly Base Rent, additional Rent on the date due (a “Monetary Default”); or (ii) Tenant fails to cure make any other default, such as, but not limited to, payment required to be made by Tenant hereunder as and when due.
(B) The failure by Tenant to execute and return to Landlord the performance Estoppel Certificate within the period of any other covenant or agreement time required by Section 20.01 of this Lease.
(C) The making by Tenant or its Guarantor of any general assignment for the benefit of creditors, the filing by or against Tenant or its Guarantor of a petition under any rules and regulations attached to this Leasefederal or state bankruptcy or insolvency laws (unless, in the case of a petition filed against Tenant or promulgated by Landlord under this Lease its Guarantor the same is dismissed within thirty (a “Nonmonetary Default”30) days after filing); or (iii) Tenant fails to fulfill any of the material terms or conditions of this Lease following the giving of applicable notice and opportunity to cure or (iv) the appointment of a trustee or a receiver to take possession of all or substantially all of Tenant’s 's assets occursat the Premises or Tenant's interest in this Lease or the Premises, when possession is not restored to Tenant within thirty (30) days; or if the attachment, execution or other judicial seizure of all or substantially all of Tenant’s 's assets located at the Premises, Premises or of Tenant’s 's interest in this Lease or the Premises, if such seizure is not discharged within thirty (30) days.
(D) The making by Tenant of: (i) any material misrepresentation or omission in this Lease or in connection with negotiating or entering into this Lease, occurs, ; (ii) any material misrepresentation or omission in any financial statements or other materials provided at any time during the Lease Term by Tenant or by any Guarantor to Landlord; (iii) any material misrepresentation or omission in any Estoppel Certificate delivered by Tenant pursuant to Article 20 of this Lease; or (viv) any material misrepresentation or omission in connection with any proposed or actual assignment, subletting or other Transfer of this Lease.
(E) The failure by Tenant to observe or perform any provision of this Lease to be observed or performed by Tenant or the breach by Tenant of any covenant in this Lease made by Tenant, other than those described in Sections 15.01 (A), (B), (C) and (D) above, if such failure continues for twenty (20) calendar days after written notice thereof by Landlord to Tenant; provided, however, that if the nature of the failure is such that it cannot be cured within the twenty (20) calendar day period, no failure shall exist if (i) Tenant or any commences the curing of its successors or assigns or surety of Tenant’s obligations should file any voluntary petition in bankruptcythe failure within the twenty (20) calendar day period, reorganization or arrangement(ii) thereafter diligently prosecutes the same to completion, or an assignment for and (iii) actually completes the benefit of creditors or for similar relief under any present or future statute, law or regulation relating to relief of debtors, or (vi) Tenant or any of its successors or assigns should be adjudicated bankrupt or have an involuntary petition in bankruptcy, reorganization or arrangement filed against it which is not dismissed cure within ninety (90) days, or calendar days from receipt of notice of such failure. The twenty (vii20) Tenant shall permit, allow or suffer to exist any lien, judgment, writ, assessment, charge, attachment or execution upon Landlord’s or Tenant’s interest in this Lease or to the Premises, and/or the fixtures, and improvements and furnishings located thereon and fails within thirty (30) days either to discharge the same or provide a bond transferring same, then, Tenant calendar day notice described herein shall be in lieu of, and not in addition to, any notice required under Section 1161 of the California Code of Civil Procedure or any other law now or hereafter in effect requiring that notice of default hereunder, or (viii) be given prior to the leasehold estate granted to Tenant by this Lease is taken on execution commencement of an unlawful detainer or other process of law or equity in any action against Tenantlegal proceeding.
Appears in 1 contract
Sources: Office Lease (Electronic Arts Inc)
Events of Default by Tenant. If (a) The occurrence of any of the following events shall be deemed to be an event of default by Tenant under this Lease:
(i) Tenant fails shall fail to pay when due hereunder any Rent on the date due (a “Monetary Default”)installment of rent or any other sum of money payable by Tenant to Landlord; or or
(ii) Tenant fails shall fail to cure comply with or observe any other defaultterm, such as, but not limited to, the performance of any other provision or covenant or agreement of this Lease, or any rules and regulations attached Tenant has not cured such failure (except for the failure to this Lease, or promulgated by Landlord under this Lease pay rent) within twenty (a “Nonmonetary Default”)20) days after the occurrence of such failure; or or
(iii) Tenant fails to fulfill any of the material terms or conditions of this Lease following the giving of applicable notice and opportunity to cure or (iv) the appointment of a trustee or a receiver to take possession of all or substantially all of Tenant’s assets occursshall become insolvent, or if the attachment, execution or other judicial seizure shall make a transfer in fraud of all or substantially all of Tenant’s assets located at the Premisescreditors, or of Tenant’s interest in this Lease, occurs, or (v) Tenant or any of its successors or assigns or surety of Tenant’s obligations should file any voluntary petition in bankruptcy, reorganization or arrangement, or shall make an assignment for the benefit of creditors creditors, or for similar relief Tenant shall admit in writing its inability to pay its debts as they become due, or Tenant shall file a petition under any present section or future statutechapter of the Bankruptcy Reform Act of 1978, as amended, or under any similar law or regulation relating to relief statute of debtorsthe United States or any State thereof, or (vi) Tenant or any of its successors or assigns should be adjudicated bankrupt or have an involuntary petition in bankruptcy, reorganization or arrangement filed against it which is not dismissed within ninety (90) days, or (vii) Tenant shall permit, allow or suffer to exist any lien, judgment, writ, assessment, charge, attachment or execution upon Landlord’s or Tenant’s interest in this Lease or to the Premises, and/or the fixtures, and improvements and furnishings located thereon and fails within thirty (30) days either to discharge the same or provide a bond transferring same, then, Tenant shall be adjudged bankrupt or insolvent in default hereunderproceedings filed against Tenant thereunder, or a petition or answer proposing the adjudication of Tenant as a bankrupt or its similar law shall be filed in any court and such petition or answer shall not be discharged within sixty (viii60) days after the filing thereof, or a receiver or trustee shall be appointed for all or substantially all of the assets of Tenant or of the Building or of any of Tenant's property located thereon; or
(iv) The leasehold estate granted hereunder shall be taken or attempted to Tenant be taken by this Lease is taken on execution or other process of law or equity in any action against Tenant; or
(v) Tenant shall abandon or vacate any substantial portion of the Building for a period of time in excess of five (5) days without written permission of Landlord; or
(vi) The liquidation, termination, dissolution, forfeiture of right to do business or death of Tenant or any Guarantor.
(b) If an event of default shall have occurred, Landlord shall have, in addition to such other rights or remedies as are contained within this Lease or at law or in equity, the right at its election, then or any time thereafter while such event of default shall continue, to pursue any one or more of the following remedies:
(i) Terminate this Lease by giving notice thereof to Tenant, in which event Tenant shall immediately surrender the Building to Landlord and if Tenant fails to do so, Landlord may without prejudice to any other remedy which it may have for possession or arrearages in rent, enter upon and take absolute possession of the Building. Tenant hereby agrees to pay to Landlord on demand the amount of all loss and damage which Landlord may suffer by reason of such termination, whether through inability to relet the Building on satisfactory terms or otherwise, including loss of rental for the remainder of the Lease Term and interest thereon at the Past Due Rate from the date of the default.
(ii) Enter upon and take absolute possession of the Building without terminating this Lease. Landlord may (but shall be under no obligation to) relet the Building or any part thereof for the account of Tenant, in the name of Tenant or Landlord or otherwise, without notice to Tenant, for such term or terms (which may be greater or less than the period which would otherwise have constituted the balance of the term of this Lease) and on such conditions (which may include concessions or free rent) and for such uses as Landlord in its absolute discretion may determine and Landlord may collect and receive any rents payable by reason of such reletting. Tenant covenants and agrees to pay Landlord on demand all reasonable expenses necessary to relet the Building which shall include the cost of renovating, repairing and altering the Building for a new tenant or tenants, advertisements and brokerage fees, and Tenant further covenants and agrees to pay Landlord on demand any deficiency that may arise by reason of such reletting together with interest on all sums due thereon at the Past Due Rate from the date of the default. Landlord shall not be responsible or liable for any failure to relet the Building or any part thereof or for any failure to collect any rent due upon any such reletting. No such re-entry or taking of possession of the Building by Landlord shall be construed as an election on Landlord's part to terminate this Lease unless a written notice of such termination is given to Tenant pursuant to subparagraph 17(b)(i) above.
(iii) Make such payments and/or take such action and do whatever Tenant is obligated to do under the terms of this Lease. Tenant covenants and agrees to reimburse Landlord on demand for any expenses which Landlord may incur in thus affecting compliance with Tenant's obligations under this Lease together with interest thereon at the Past Due Rate from the date paid by Landlord, and Tenant further agrees that Landlord shall not be liable for any damages resulting to Tenant from such action, whether caused by the negligence of Landlord or otherwise.
(iv) Collect, from time to time, by suit or otherwise, each installment of rent or other sum as it becomes due hereunder, or to enforce, from time to time, by suit or otherwise, any other term or provision hereof on the part of Tenant required to be kept or performed.
(v) Terminate this Lease by giving Tenant notice thereof, in which event Tenant shall pay to Landlord the sum of (1) all rent accrued hereunder through the date of termination, and (2) an amount equal to (A) the total rent that Tenant would have been required to pay for the remainder of the Lease Term discounted to present value at a rate of seven percent (7%) per annum, minus (B) the then present fair rental value of the Building for such period, similarly discounted at a rate of seven percent (7%) per annum, after deducting all anticipated costs of reletting and Landlord's expenses for keeping the Building in good order.
(c) In order to regain possession of the Building pursuant to this Paragraph 17, Landlord or its ▇▇▇▇▇ ▇▇▇, ▇▇ ▇▇▇ ▇▇▇▇▇se and liability of the Tenant, alter or change any or all locks or other security devices controlling access to the Building without posting or giving notice of any kind to Tenant. Landlord shall have no obligation to provide Tenant a key or grant Tenant access to the Building so long as Tenant is in default under this Lease. Landlord may, without notice, remove and either dispose of or store, at Tenant's expense, any property belonging to Tenant that remains in the Building after Landlord has regained possession thereof.
(d) No repossession or re-entering on the Building or any part thereof by Landlord and no reletting of the Building or any part thereof by Landlord shall terminate this Lease, unless a notice of such intention be given to Tenant.
(e) No right or remedy herein conferred upon or reserved to Landlord is intended to be exclusive of any other right or remedy, and each and every right and remedy shall be cumulative and in addition to any other right or remedy given hereunder or now or hereafter existing at law or in equity or by statute. In addition to other remedies provided in this Lease, Landlord shall be entitled, to the extent permitted by applicable law, to injunctive relief in case of the violation, or attempted or threatened violation, of any of the covenants, agreements, conditions or provisions of this Lease, or to a decree compelling performance of any of the other covenants, agreements, conditions or provisions of this Lease, or to any other remedy allowed to Landlord at law or in equity.
Appears in 1 contract
Events of Default by Tenant. If The following shall, upon the giving of notice to Tenant of the nature of the default and the expiration of any applicable grace period afforded Tenant hereunder as set forth in Section 23.B. constitute an Event of Default under this Lease. If
(i1) Tenant fails to pay make any payment of Rent on the date when due (a “"Monetary Default”"); or (ii2) Tenant fails to cure fulfill any other defaultof the terms or conditions, such ascovenants, but not limited to, the performance of any other covenant or agreement of this Lease, agreements or any rules and regulations attached to this Lease, as Exhibit "C" or promulgated by Landlord under this Lease which shall in all instances be reasonable and have as close to equal application to all Tenants of the Building as is practicable (a “Nonmonetary "Non-monetary Default”"); or (iii) Tenant fails to fulfill any of the material terms or conditions of this Lease following the giving of applicable notice and opportunity to cure or (iv3) the appointment of a trustee or a receiver to take possession of all or substantially all of Tenant’s 's assets occurs, and such appointment is not dismissed within thirty (30) days after appointment, or if the attachment, execution or other judicial seizure of all or substantially all of Tenant’s 's assets located at the Premises, or of Tenant’s 's interest in this Lease, occurs, ; or (v4) Tenant or any of its successors or assigns or surety any guarantor of Tenant’s obligations this Lease ("Guarantor") should file any voluntary petition in bankruptcy, reorganization or arrangement, or an assignment for the benefit of creditors or for similar relief under any present or future statute, law or regulation relating to relief of debtors, ; or (vi5) Tenant or any of its successors or assigns or any Guarantor should be adjudicated bankrupt or have an involuntary petition in bankruptcy, reorganization or arrangement filed against it which and such proceeding is not dismissed within ninety thirty (9030) days, days of filing; or (vii6) Tenant, before the expiration of the Lease Term and without the prior written consent of Landlord, vacates the Premises or abandons possession of the Premises, and fails to pay Rent on a timely basis; or (7) Tenant shall permit, allow or suffer to exist any lienlien by or through Tenant, judgment, writ, assessment, charge, attachment or execution upon Landlord’s 's or Tenant’s 's interest in this Lease or to the Premises, and/or the fixtures, and improvements and furnishings located thereon and fails thereon, whether claimant or holder thereof has acquired its right by or through Tenant, unless such lien, judgment, writ, assessment, charge, attachment or execution is discharged of record or transferred from the Property by bond within thirty ten (3010) days either following notice to discharge Tenant; or (8) Tenant, if a publicly held company, shall cease to conform with minimum listing requirements of the same National Stock Exchange on which it is listed or provide shall fail to timely file its 10K statement or otherwise fail to maintain financial statements required of a bond transferring samepublicly traded and listed company, then, then Tenant shall be in default hereunder, ; or (viii9) the leasehold estate granted to if Tenant by this Lease is taken on execution or other process not a publicly held company and neither Tenant nor Guarantor maintains a net worth of law or equity in any action against Tenantat least $25,000,000.00.
Appears in 1 contract
Sources: Lease (DBT Online Inc)
Events of Default by Tenant. If The occurrence of any of the following shall constitute a material default and breach of this Lease by Tenant:
(iA) The failure by Tenant fails to pay any Base Rent on the date due (a “Monetary Default”); or (ii) Tenant fails to cure make any other default, such as, but not limited to, payment within five (5) business days after notice that is required to be made by Tenant hereunder as and when due. Notice to be given no more than twice during any given calendar year.
(B) The abandonment of the performance Premises by Tenant for fourteen (14) consecutive days (with or without the payment of Rent).
(C) The making by Tenant of any other covenant assignment of this Lease or agreement any sublease of all or part of the Premises, except as expressly permitted under Article XIV of this Lease, .
(D) The failure by Tenant to observe or perform any rules and regulations attached to this Lease, or promulgated by Landlord under this Lease (a “Nonmonetary Default”); or (iii) Tenant fails to fulfill any of the material terms or conditions other provision of this Lease following the giving of applicable to be observed or performed by Tenant, other than those described in Sections 15.01(A), 15.01(B) or 15.01 (C) above, if such failure continues for thirty (30) days after written notice and opportunity thereof by Landlord to cure or (iv) the appointment of a trustee or a receiver to take possession of all or substantially all of Tenant’s assets occurs; provided, or however, that if the attachmentnature of the default is such that it cannot be cured within the thirty (30) day period, execution no default shall be deemed to exist if Tenant commences the curing of the default promptly within such thirty (30) day period and thereafter diligently prosecutes the same to completion and achieves the same within sixty (60) days after the occurrence of such default. The thirty (30) day notice described herein shall be in lieu of, and not in addition to, any notice required under law now or hereafter in effect requiring that notice of default be given prior to the commencement of an unlawful detainer or other judicial seizure of all or substantially all of Tenant’s assets located at the Premises, or of Tenant’s interest in this Lease, occurs, or legal proceeding.
(vE) The making by Tenant or its Guarantor of any of its successors or assigns or surety of Tenant’s obligations should file any voluntary petition in bankruptcy, reorganization or arrangement, or an general assignment for the benefit of creditors creditors, the filing by or for similar relief against Tenant or its Guarantor of a petition under any present federal or future statutestate bankruptcy or insolvency laws (unless, law or regulation relating to relief in the case of debtors, or (vi) a petition filed against Tenant or any of its successors or assigns should be adjudicated bankrupt or have an involuntary petition in bankruptcy, reorganization or arrangement filed against it which is not dismissed within ninety (90) days, or (vii) Tenant shall permit, allow or suffer to exist any lien, judgment, writ, assessment, charge, attachment or execution upon Landlord’s or Tenant’s interest in this Lease or to the Premises, and/or the fixtures, and improvements and furnishings located thereon and fails within thirty (30) days either to discharge Guarantor the same or provide a bond transferring same, then, Tenant shall be in default hereunder, or (viii) the leasehold estate granted to Tenant by this Lease is taken on execution or other process of law or equity in any action against Tenant.dismissed
Appears in 1 contract
Sources: Industrial Lease (Brightpoint Inc)
Events of Default by Tenant. If (i) Tenant fails to pay any Rent on the date due (a “Monetary Default”); or (ii) Tenant fails to cure any other default, such as, but not limited to, the performance The occurrence of any other covenant or agreement of this Lease, or any rules and regulations attached to this Lease, or promulgated by Landlord under this Lease (a “Nonmonetary Default”); or (iii) Tenant fails to fulfill any of the following shall constitute a material terms or conditions default and breach of this Lease following by ▇▇▇▇▇▇:
(a) The failure by Tenant to pay Rent, additional rent or make any other payment required to be made by Tenant hereunder as and when due.
(b) The abandonment of the giving Building by Tenant or the vacation of applicable the Building by ▇▇▇▇▇▇ for fourteen (14) consecutive days (with or without the payment of Rent).
(c) The failure by ▇▇▇▇▇▇ to observe or perform any other provision of this Lease to be observed or performed by ▇▇▇▇▇▇, other than those described in Sections (a) and (b) above, if such failure continues for ten (10) days after written notice thereof by Landlord to Tenant; provided, however, that if the nature of the default is such that it cannot be cured within the ten (10) day period, no default shall exist if Tenant commences the curing of the default within the ten (10) day period and opportunity thereafter diligently prosecutes the same to cure completion and if Landlord or any Mortgagee will not be subject to prosecution for a crime or termination of any Superior Mortgage. The ten (iv10) day notice described herein shall be in lieu of, and not in addition to, any notice required under law, now or hereafter in effect, requiring that notice of default be given prior to the commencement of an unlawful detainer or other legal proceeding.
(d) The making by Tenant of any general assignment for the benefit of creditors, the filing by or against Tenant of a petition under any federal or state bankruptcy or insolvency laws (unless, in the case of a petition filed against Tenant the same is dismissed within thirty (30) days after filing); the appointment of a trustee or a receiver to take possession of all or substantially all of Tenant’s assets occursat the Building or ▇▇▇▇▇▇’s interest in this Lease or the Building, when possession is not restored to Tenant within thirty (30) days; or if the attachment, execution or other judicial seizure of all or substantially all of Tenant’s assets located at the Premises, or of Tenant’s interest in this Lease, occurs, or (v) Tenant or any of its successors or assigns or surety of Tenant’s obligations should file any voluntary petition in bankruptcy, reorganization or arrangement, or an assignment for the benefit of creditors or for similar relief under any present or future statute, law or regulation relating to relief of debtors, or (vi) Tenant or any of its successors or assigns should be adjudicated bankrupt or have an involuntary petition in bankruptcy, reorganization or arrangement filed against it which is not dismissed within ninety (90) days, or (vii) Tenant shall permit, allow or suffer to exist any lien, judgment, writ, assessment, charge, attachment or execution upon Landlord’s Building or Tenant’s interest in this Lease or the Building, if such seizure is not discharged within thirty (30) days.
(e) Any material misrepresentation herein, or material misrepresentation or omission in any financial statements or other materials provided by Tenant or any Guarantor in connection with negotiating or entering into this Lease or in connection with any Transfer under Article XIII.
(f) Tenant’s admission in writing of its inability to pay its debts as they mature.
(g) Suspension of Tenant’s right to conduct its business, caused by the Premisesorder, and/or the fixturesjudgment, decree, decision or other act of any court or governmental agency, and improvements and furnishings located thereon and fails the failure to regain such right to conduct business within sixty (60) days thereafter.
(h) If the performance of Tenant’s obligation under this Lease is guaranteed, (i) the termination of Guarantor’s liability with respect to this Lease other than in accordance with the terms of the guaranty, (ii) the making by Guarantor of any general assignment for the benefit of creditors, the filing by or against Guarantor of a petition under any federal or state bankruptcy or insolvency laws (unless, in the case of a petition filed against Guarantor the same is dismissed within thirty (30) days either after filing), (iii) Guarantor’s refusal or inability to discharge honor the same or provide a bond transferring same, then, Tenant shall be in default hereunderguaranty, or (viiiiv) the leasehold estate granted Guarantor’s breach of its guarantee obligation, and ▇▇▇▇▇▇’s failure, within sixty (60) days following written notice by or on behalf of Landlord to Tenant by of such event, to provide Landlord with written alternative assurance or security which, when coupled with the then existing resources of Tenant, equals or exceeds the combined financial resources of Tenant and Guarantor that existed at the time of execution of this Lease is taken on execution or other process of law or equity in any action against TenantLease.
Appears in 1 contract
Sources: Office Lease Agreement
Events of Default by Tenant. The following shall constitute events of default by Tenant:
(a) If Tenant shall fail to make any payment due under this Lease Agreement, and such failure shall continue for ten (i10) Tenant fails to pay any Rent on the date due business days after written notice by Landlord; (b) if a “Monetary Default”); or (ii) Tenant fails to cure any other default, such as, but not limited to, default exists in the performance of any of the other covenant covenants or agreement conditions which Tenant is required to observe and to perform, and such default shall continue for twenty (20) days after written notice by Landlord; (c) if the interest of this Lease, or any rules and regulations attached to this Lease, or promulgated by Landlord Tenant under this Lease (a “Nonmonetary Default”); Agreement is levied upon, or (iii) Tenant fails to fulfill any of the material terms is under execution or conditions of this Lease following the giving of applicable notice and opportunity to cure or (iv) the appointment of a trustee or a receiver to take possession of all or substantially all of Tenant’s assets occursother legal process, or if the attachmentany petition shall be filed by or against Tenant to declare Tenant as bankrupt or to delay, execution reduce, or modify Tenant's debts or obligations; (d) if any petition shall be filed or other judicial seizure of all action taken to reorganize or substantially all modify Tenant's capital structure if Tenant be a corporation or other entity; unless approved in writing by Landlord which shall not be unreasonably withheld; (e) if Tenant is declared insolvent, or if any assignment of Tenant’s assets located at the Premises, or of Tenant’s interest in this Lease, occurs, or (v) Tenant or any of its successors or assigns or surety of Tenant’s obligations should file any voluntary petition in bankruptcy, reorganization or arrangement, or an assignment 's property is made for the benefit of creditors or if a receiver or trustee is appointed for similar relief under in Tenant or its property; (f) if Tenant vacates or abandons the Leased Premises during the term of this Lease Agreement or any present extensions thereof; or future statute(g) if Tenant makes any transfer of any interest in the Leased Premises not in accordance with the requirements of this Lease Agreement, then Landlord may treat the occurrence of any one or more of the foregoing events as a breach of this Lease Agreement and thereupon, at Landlord's option, Landlord shall have one or more of the following described remedies in addition to all other rights and remedies provided at law or regulation relating in equity:
a. Landlord may terminate this Lease Agreement and forthwith, in accordance with applicable law, repossess the Leased Premises and remove all persons or property therefrom, and be entitled to relief recover as damages a sum of debtorsmoney equal to the total of (i) the cost of recovering the Leased Premises (ii) the unpaid rent owed thereon from due date plus interest thereon at the rate of 18% per annum or the maximum rate permitted by applicable law, whichever is lower, (iii) the present value of the balance of the rent for the remainder of the term, discounted to the present at 8% per annum, and (iv) any other sum of money and damages owed by Tenant to Landlord;
b. Landlord shall also be entitled to terminate Tenant's right of possession in accordance with applicable law and to repossess the Leased Premises, without demand or notice of any kind to Tenant, by summary proceedings, any other applicable action or proceeding, or otherwise, all without terminating this Lease Agreement, in which event Landlord may, but shall be under no obligation to, relet the same for the account of Tenant for such rent and upon such terms as shall be satisfactory to Landlord. None of these actions will be deemed an acceptance of surrender of the Leased Premises. For the purpose of such reletting Landlord is authorized to decorate or to make any reasonable repairs, changes, alterations, or additions in or to the Leased Premises that may be necessary or convenient, and (i) if Landlord shall fail or refuse to relet the Leased Premises, or (viii) Tenant if the same is relet and a sufficient sum shall not be realized from such reletting, after paying the unpaid Base Rental due hereunder earned or any unpaid at the time of its successors or assigns should be adjudicated bankrupt or have an involuntary petition in bankruptcyreletting, reorganization or arrangement filed against it which is not dismissed within ninety (90) daysplus interest thereon at the rate set forth herein, or (vii) Tenant shall permitthe cost of recovering possession, allow or suffer and all of the reasonable costs and expenses of such decoration, repairs, changes, alterations, and additions, and the reasonable expense of such reletting, and of the reasonable collection of the rent accruing therefrom to exist any lien, judgment, writ, assessment, charge, attachment or execution upon Landlord’s or Tenant’s interest satisfy the payment of the rent provided for in this Lease or Agreement, then Tenant shall pay to Landlord as damages a sum equal to the Premisesamount of the rental reserved in this Lease Agreement for such period or periods, and/or or if the fixtures, and improvements and furnishings located thereon and fails within thirty (30) days either to discharge the same or provide a bond transferring same, thenLeased Premises have been relet, Tenant shall satisfy and pay any such deficiency upon demand therefor from time to time; and Tenant agrees that Landlord may file suit to recover any sums falling due under the terms of this Lease Agreement from time to time on one or more occasions without Landlord being obligated to wait until expiration of the term of this Lease Agreement and without barring or affecting in any manner Landlord's right to bring a later action or actions for further damages; nor shall such reletting be in default hereunder, or (viii) construed as an election on the leasehold estate granted part of Landlord to terminate this Lease Agreement unless a written notice of such intention be given to Tenant by Landlord. Notwithstanding any such reletting without termination, Landlord may at any time thereafter elect to terminate this Lease is taken on execution Agreement for such previous breach.
c. Without prejudice to any other remedy for default, Landlord may perform any obligation or other process make any payment required to cure a default by Tenant. The cost of law or equity in any action against Tenantperformance, including attorneys' fees and all disbursements, shall immediately be paid by Tenant to Landlord upon demand as Additional Rent.
Appears in 1 contract
Events of Default by Tenant. If (i1) Tenant abandons or surrenders all or any part of the Premises prior to the expiration of the Term of the Lease or (2) Tenant fails to pay any Rent on the date due or Additional Rent within five (a “Monetary Default”); or 5) days after notice from Landlord of delinquency, (ii) Tenant fails to cure any other default, such as, but not limited to, the performance of any other covenant or agreement of this Lease, or any rules and regulations attached to this Lease, or promulgated by Landlord under this Lease (a “Nonmonetary Default”); or (iii3) Tenant fails to fulfill any of the material terms or conditions of this Lease following or any other lease heretofore made by Tenant for space in the giving of applicable Premises and the same is not cured within thirty (30) days after written notice and opportunity thereof from Landlord, unless the same cannot be cured within said thirty (30) day period; in which case Tenant shall have such additional time as is reasonably necessary to cure such default, not to exceed ninety (90) days in any and all events, provided that Tenant commences such cure within said thirty (30) day period and thereafter diligently prosecutes the same to completion, or (iv4) the appointment of a trustee or a receiver to take possession of all or substantially all of Tenant’s assets occurs, or if the attachment, execution or other judicial seizure of all or substantially all of Tenant’s assets located at the Premises, or of Tenant’s interest in this Lease, occurs, and in the case of an involuntary appointment only, the same is not dismissed within ninety (90) days from said appointment, or (v5) Tenant or any of its successors or assigns or surety any guarantor of Tenant’s obligations this Lease (“Guarantor”) should file any voluntary petition in bankruptcy, reorganization or arrangement, or an assignment for the benefit of creditors or for similar relief under any present or future statute, law or regulation relating to relief of debtors, or (vi6) Tenant or any of its successors or assigns or any Guarantor should be adjudicated bankrupt or have an involuntary petition in bankruptcy, reorganization or arrangement filed against it which is and the same not be dismissed within ninety (90) daysdays of the date of the filing thereof, or (vii7) Tenant shall permit, allow or suffer to exist any lien, judgment, writ, assessment, charge, attachment or execution upon Landlord’s or Tenant’s interest in this Lease or to the Premises, and/or the fixtures, and improvements and furnishings located thereon and fails within thirty (30) days either to discharge the same or provide a bond transferring samethereon, except as otherwise permitted herein; then, Tenant shall be in default hereunder, or (viii) the leasehold estate granted to Tenant by this Lease is taken on execution or other process of law or equity in any action against Tenant.
Appears in 1 contract
Events of Default by Tenant. If The occurrence of any of the following shall constitute a material default and breach of this Lease by Tenant:
(iA) The failure by Tenant fails to pay any Base Rent on the date due (a “Monetary Default”); or (ii) Tenant fails to cure make any other default, such as, but not limited to, payment required to be made by Tenant hereunder as and when due.
(B) The abandonment of the performance Premises by Tenant or the vacation of the Premises by Tenant for fourteen (14) consecutive days (with or without the payment of Rent).
(C) The making by Tenant of any other covenant assignment of this Lease or agreement any sublease of all or part of the Premises, except as expressly permitted under Article XIV of this Lease, .
(D) The failure by Tenant to observe or perform any rules and regulations attached to this Lease, or promulgated by Landlord under this Lease (a “Nonmonetary Default”); or (iii) Tenant fails to fulfill any of the material terms or conditions other provision of this Lease following to be observed or performed by Tenant, other than those described in Sections 15.01(A), 15.01(B) or 15.01 (C) above, if such failure continues for fifteen (15) days after written notice thereof by Landlord to Tenant; provided, however, that if the giving nature of applicable the default is such that it cannot be cured within the fifteen (15) day period, no default shall exist if Tenant commences the curing of the default within the fifteen (15) day period and thereafter diligently prosecutes the same to completion. The fifteen (15) day notice described herein shall be in lieu of, and opportunity not in addition to, any notice required under Section 1161 of the California Civil Code of Procedure or any other law now or hereafter in effect requiring that notice of default be given prior to cure the commencement of an unlawful detainer or other legal proceeding.
(ivE) The making by Tenant or its Guarantor of any general assignment for the benefit of creditors, the filing by or against Tenant or its Guarantor of a petition under any federal or state bankruptcy or insolvency laws (unless, in the case of a petition filed against Tenant or its Guarantor the same is dismissed within thirty (30) days after filing); the appointment of a trustee or a receiver to take possession of all or substantially all of Tenant’s 's assets occursat the Premises or Tenant's interest in this Lease or the Premises, when possession is not restored to Tenant within thirty (30) days; or if the attachment, execution or other judicial seizure of all or substantially all of Tenant’s 's assets located at the Premises, or of Tenant’s interest in this Lease, occurs, or (v) Tenant or any of its successors or assigns or surety of Tenant’s obligations should file any voluntary petition in bankruptcy, reorganization or arrangement, or an assignment for the benefit of creditors or for similar relief under any present or future statute, law or regulation relating to relief of debtors, or (vi) Tenant or any of its successors or assigns should be adjudicated bankrupt or have an involuntary petition in bankruptcy, reorganization or arrangement filed against it which is not dismissed within ninety (90) days, or (vii) Tenant shall permit, allow or suffer to exist any lien, judgment, writ, assessment, charge, attachment or execution upon Landlord’s Premises or Tenant’s 's interest in this Lease or to the Premises, and/or the fixtures, and improvements and furnishings located thereon and fails if such seizure is not discharged within thirty (30) days either to discharge the same or provide a bond transferring same, then, Tenant shall be in default hereunderdays.
(F) Any material misrepresentations herein, or (viii) the leasehold estate granted to material misrepresentation or omission in any financial statements or other materials provided by Tenant by or any Guarantor in connection with negotiating or entering into this Lease is taken on execution or other process of law or equity in connection with any action against TenantTransfer under Section 14.01.
Appears in 1 contract
Sources: Office Lease (Deja Foods Inc)
Events of Default by Tenant. If (i) Each of the following events shall be an “Event of Default” hereunder:
17.1.1 Default by Tenant in paying any installment of Rent or in making any deposit required pursuant to Section 4 and such default continues for a period of 5 days following written notice thereof to Tenant; however, an Event of Default shall occur hereunder without any obligation to give any notice if Tenant fails to pay any Base Rent before the same becomes delinquent and, during the 12-month interval preceding such failure, Tenant has been given written notice of failure to pay Base Rent on the date due (one or more occasions;
17.1.2 If Tenant or any guarantor of Tenant’s obligations hereunder shall file a “Monetary Default”); voluntary petition in bankruptcy or (ii) Tenant fails to cure shall be adjudicated a bankrupt or insolvent, or shall file any petition or answer seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief under present or any future bankruptcy act or any other defaultpresent or future applicable federal, such asstate or other statute or Law or other law, but not limited toordinance, the performance order, rule, regulation or requirement of any other covenant or agreement of this Leasegovernmental authority, or any rules and regulations attached shall seek or consent to this Lease, or promulgated by Landlord under this Lease (a “Nonmonetary Default”); or (iii) Tenant fails to fulfill any of the material terms or conditions of this Lease following the giving of applicable notice and opportunity to cure or (iv) acquiesce in the appointment of a trustee any trustee, receiver or a receiver to take possession liquidator of Tenant or any guarantor of Tenant’s obligations hereunder or of all or substantially all any substantial part of Tenant’s assets occurs, or if the attachment, execution or other judicial seizure of all or substantially all of Tenant’s assets located at the Premises, its properties or of Tenant’s interest in this Lease, occurs, or (v) subleasehold estate with respect to the Property;
17.1.3 If within 90 days after the commencement of any proceeding against Tenant or any of its successors or assigns or surety guarantor of Tenant’s obligations should file hereunder seeking any voluntary petition in bankruptcyreorganization, reorganization or arrangement, composition, readjustment, liquidation, dissolution or an assignment for the benefit of creditors or for similar relief under the present or any future federal bankruptcy act or any other present or future statuteapplicable federal, law state or other statute or Law or other law, ordinance, order, rule, regulation relating to relief or requirement of debtorsany governmental authority, such proceeding shall not have been dismissed, or (vi) if, within 90 days after the appointment, without the consent or acquiescence of Tenant or any guarantor of Tenant’s obligations hereunder, of any trustee, receiver or liquidator of Tenant or any guarantor of Tenant’s obligations hereunder or of all or any substantial part of its successors properties or assigns should of Tenant’s subleasehold estate with respect to the Property, such appointment shall not have been vacated or stayed on appeal or otherwise, or if, within 90 days after the expiration of any such stay, such appointment shall not have been vacated;
17.1.4 If a levy under execution or attachment shall be adjudicated bankrupt made against Tenant’s subleasehold estate or have an involuntary petition in bankruptcyinterest hereunder and such execution or attachment shall not be vacated or removed by court order, reorganization bonding or arrangement otherwise within a period of 90 days;
17.1.5 If the Property is used for other than the Permitted Use and such default continues for a period of 15 days following written notice thereof to Tenant;
17.1.6 Tenant fails to pay and release of record, or diligently contest and bond around, any mechanic’s or construction lien filed against it which is not dismissed the Property or any portion thereof for any work performed, materials furnished, or obligation incurred by or at the request of Tenant or any Tenant Party, within ninety (90) the time and in the manner required by Section 10;
17.1.7 If Tenant fails to timely maintain, or cause to be maintained, any insurance required to be maintained under this Lease and such failure continues for 10 days, or (vii) the failure of Tenant shall permitto furnish Landlord with certificates of any insurance required under this Lease and such failure continues for ten days after written notice thereof to Tenant;
17.1.8 If Tenant fails to provide any estoppel certificate, allow or suffer to exist any lien, judgment, writ, assessment, charge, attachment or execution upon Landlord’s or Tenant’s interest in documentation regarding the subordination of this Lease or financial reports after written request therefor pursuant to the PremisesSection 26.3, and/or the fixturesSection 18 and Section 25.1 respectively, and improvements such failure shall continue for 5 days after the second written notice thereof to Tenant;
17.1.9 Tenant (a) abandons or vacates the Property or any substantial portion thereof or (b) fails to continuously operate its business in the Property for the Permitted Use set forth herein;
17.1.10 Default by Tenant in observing or performing one or more of the other terms, conditions, covenants or agreements of this Lease and furnishings located thereon the continuance of such default for a period of 15 days after written notice to Tenant specifying such default (unless such default requires work to be performed, acts to be done, or conditions to be removed which cannot by their nature reasonably be performed, done or removed, as the case may be, within such 15-day period, in which case no such Event of Default shall be deemed to exist so long as Tenant shall have commenced curing such default within such 15-day period and fails within thirty (30) days either to discharge shall diligently and continuously prosecute the same or provide a bond transferring sameto completion, thenprovided, Tenant however, that in any event such an Event of Default shall be deemed to exist if such cure of such default has not been completed within (a) 60 days after written notice to Tenant as described above in the case of a default hereunderwhich could also constitute a failure, breach or default under the Ground Lease or (viiib) the leasehold estate granted 90 days after written notice to Tenant as described above in the case of a default which could not also constitute a failure, breach or default under the Ground Lease);
17.1.11 The occurrence of any “Default” under Article XI of the Ground Lease (other than one caused solely by this Lease is taken on execution or other process of law or equity in any action against Tenantfailure to pay “Base Rent” thereunder).
Appears in 1 contract
Sources: Sublease Agreement (iBio, Inc.)
Events of Default by Tenant. If The occurrence of any of the following shall constitute a material default and breach of this Lease by Tenant:
(iA) The failure by Tenant fails to pay Base Rent or make any Rent on the date due other payment required to be made by Tenant hereunder as and when due, provided that Tenant shall have three (a “Monetary Default”); or (ii3) Tenant fails days from receipt of any notice of Tenant’s failure to pay to cure any other such default, such as, but not limited to, .
(B) The abandonment of the performance Premises by Tenant or the vacation of the Premises by Tenant for fourteen (14) consecutive days (with or without the payment of Rent).
(C) The making by Tenant of any other covenant assignment of this Lease or agreement any sublease of all or part of the Premises, except as expressly permitted under Article XIV of this Lease, .
(D) The failure by Tenant to observe or perform any rules and regulations attached to this Lease, or promulgated by Landlord under this Lease (a “Nonmonetary Default”); or (iii) Tenant fails to fulfill any of the material terms or conditions other provision of this Lease following to be observed or performed by Tenant, other than those described in Sections 15.01(A), 15.01(B) or 15.01 (C) above, if such failure continues for fifteen (15) days after written notice thereof by Landlord to Tenant; provided, however, that if the giving nature of applicable notice the default is such that it cannot be cured within the fifteen (15) day period, no default shall exist if Tenant commences the curing of the default within the fifteen (15) day period and opportunity thereafter diligently prosecutes the same to cure completion.
(E) The making by Tenant or its Guarantor of any general assignment for the benefit of creditors, the filing by or against Tenant or its Guarantor of a petition under any federal or state bankruptcy or insolvency laws (ivunless, in the case of a petition filed against Tenant or its Guarantor the same is dismissed within thirty (30) days after filing); the appointment of a trustee or a receiver to take possession of all or substantially all of Tenant’s assets occursat the Premises or Tenant’s interest in this Lease or the Premises, when possession is not restored to Tenant within thirty (30) days; or if the attachment, execution or other judicial seizure of all or substantially all of Tenant’s assets located at the Premises, or of Tenant’s interest in this Lease, occurs, or (v) Tenant or any of its successors or assigns or surety of Tenant’s obligations should file any voluntary petition in bankruptcy, reorganization or arrangement, or an assignment for the benefit of creditors or for similar relief under any present or future statute, law or regulation relating to relief of debtors, or (vi) Tenant or any of its successors or assigns should be adjudicated bankrupt or have an involuntary petition in bankruptcy, reorganization or arrangement filed against it which is not dismissed within ninety (90) days, or (vii) Tenant shall permit, allow or suffer to exist any lien, judgment, writ, assessment, charge, attachment or execution upon Landlord’s Premises or Tenant’s interest in this Lease or to the Premises, and/or the fixtures, and improvements and furnishings located thereon and fails if such seizure is not discharged within thirty (30) days either to discharge the same or provide a bond transferring same, then, Tenant shall be in default hereunderdays.
(F) Any material misrepresentation herein, or (viii) the leasehold estate granted to material misrepresentation or omission in any financial statements or other materials provided by Tenant by or any Guarantor in connection with negotiating or entering into this Lease is taken on execution or other process of law or equity in connection with any action against TenantTransfer under Section 14.01.
Appears in 1 contract
Sources: Office Lease (Cherokee Inc)
Events of Default by Tenant. If The following shall, upon the giving of notice to Tenant of the nature of the default and the expiration of any applicable grace period afforded Tenant hereunder as set forth in Section 23.B. constitute an Event of Default under this Lease. If
(i1) Tenant fails to pay make any payment of Rent on the date when due (a “"Monetary Default”"); or (ii2) Tenant fails to cure fulfill any other defaultof the terms or conditions, such ascovenants, but not limited to, the performance of any other covenant or agreement of this Lease, agreements or any rules and regulations attached to this Lease, as Exhibit "C" or promulgated by Landlord under this Lease which shall in all instances be reasonable and have as close to equal application to all tenants of the Building as is practicable (a “Nonmonetary "Non-Monetary Default”"); or (iii) Tenant fails to fulfill any of the material terms or conditions of this Lease following the giving of applicable notice and opportunity to cure or (iv3) the appointment of a trustee or a receiver to take possession of all or substantially all of Tenant’s 's assets occurs, and such appointment is not dismissed within thirty (30) days after appointment, or if the attachment, execution or other judicial seizure of all or substantially all of Tenant’s 's assets located at the Premises, or of Tenant’s 's interest in this Lease, occurs, ; or (v4) Tenant or any of its successors or assigns or surety any guarantor of Tenant’s obligations this Lease ("Guarantor"), if any, should file any voluntary petition in bankruptcy, reorganization or arrangement, or an assignment for the benefit of creditors or for similar relief under any present or future statute, law or regulation relating to relief of debtors, ; or (vi5) Tenant or any of its successors or assigns or any Guarantor should be adjudicated bankrupt or have an involuntary petition in bankruptcy, reorganization or arrangement filed against it which and such proceeding is not dismissed within ninety thirty (9030) days, days of filing; or (vii6) Tenant, before the expiration of the Lease Term and without the prior written consent of Landlord, vacates the Premises or abandons possession of the Premises, and fails to pay Rent on a timely basis; or (7) Tenant shall permit, allow or suffer to exist any lienlien by or through Tenant, judgment, writ, assessment, charge, attachment or execution upon Landlord’s 's or Tenant’s 's interest in this Lease or to the Premises, and/or the fixtures, and improvements and furnishings located thereon and fails thereon, whether claimant or holder thereof has acquired its right by or through Tenant, unless such lien, judgment, writ, assessment, charge, attachment or execution is discharged of record or transferred from BLUE LAKE STANDARD LEASE the Property by bond within thirty ten (3010) days either following notice to discharge the same or provide a bond transferring same, then, Tenant shall be in default hereunder, or (viii) the leasehold estate granted to Tenant by this Lease is taken on execution or other process of law or equity in any action against Tenant.
Appears in 1 contract
Sources: Standard Lease (Andrx Corp)
Events of Default by Tenant. If The following events shall be deemed to be events of default by Tenant under this Lease:
(ia) Tenant fails shall fail to pay when due any Rent on the date sum of money due (a “Monetary Default”); Landlord hereunder or (ii) Tenant fails to cure any other default, such as, but not limited to, payment or reimbursement due Landlord by the performance of any other covenant or agreement terms of this Lease, and such failure shall continue for a period of ten (10) days from the date when such payment was due.
(b) Tenant shall fail to comply with any term, provision or any rules and regulations attached to covenant of this Lease, or promulgated by Landlord under this Lease other than the failure to pay a sum of money due Landlord, and shall not cure such failure within twenty (a “Nonmonetary Default”); or 20thirty (iii30) days after written notice thereof to Tenant or, in the case of failures that cannot be cured within twenty (20thirty (30) days, commence to cure such failure within twenty (20thirty
(c) Tenant fails shall attempt to fulfill assign, transfer, convey, sublet, encumber or dispose of any of its right, title or interest in the material terms whole or conditions any part of this the Premises without the prior approval of Landlord.
(d) Tenant shall abandon any substantial portion of the Premises or cease to use a substantial portion of the Premises for the Permitted Uses.
(e) This Lease following or the giving Premises or any part of applicable the Premises are taken upon execution or by other process of law directed against Tenant, or are taken upon or subjected to any attachment by any creditor of Tenant or claimant against Tenant, and such attachment is not discharged within fifteen (15) days after its levy.
(f) Tenant shall fail to contest diligently the validity of any lien or claimed lien and give sufficient security to Landlord to insure payment thereof or shall fail to satisfy any judgment rendered thereon and have the same released within ten (10) days after Tenant has notice and opportunity to cure from any source of such lien.
(g) Tenant shall file a petition in bankruptcy or insolvency or for reorganization or arrangement under the bankruptcy law of the United States, or is dissolved, or makes an assignment for the benefit of creditors.
(ivh) Involuntary proceedings under any such bankruptcy laws or for the appointment dissolution of a trustee Tenant are instituted against Tenant, or a receiver to take possession of or trustee is appointed for all or substantially all of Tenant’s assets occurs's property, or if the attachment, execution or other judicial seizure of all or substantially all of Tenant’s assets located at the Premises, or of Tenant’s interest in this Lease, occurs, or (v) Tenant or any of its successors or assigns or surety of Tenant’s obligations should file any voluntary petition in bankruptcy, reorganization or arrangement, or an assignment for the benefit of creditors or for similar relief under any present or future statute, law or regulation relating to relief of debtors, or (vi) Tenant or any of its successors or assigns should be adjudicated bankrupt or have an involuntary petition in bankruptcy, reorganization or arrangement filed against it which and such proceeding is not dismissed or such receivership or trusteeship is not vacated within ninety (90) days, days after such institution or appointment.
(viii) Tenant shall permit, allow fail to use the Premises for the Permitted Uses or suffer to exist shall use the Premises for any lien, judgment, writ, assessment, charge, attachment or execution upon Landlord’s or Tenant’s interest in this Lease or to the Premises, and/or the fixtures, and improvements and furnishings located thereon and fails within thirty (30) days either to discharge the same or provide a bond transferring same, then, Tenant shall be in default hereunder, or (viii) the leasehold estate granted to Tenant by this Lease is taken on execution or other process of law or equity in any action against Tenantuses.
Appears in 1 contract
Sources: Lease Agreement